{"id":3976,"date":"2025-01-31T10:07:58","date_gmt":"2025-01-31T12:07:58","guid":{"rendered":"https:\/\/criptonizando.com\/en\/?p=3976"},"modified":"2025-01-31T11:00:16","modified_gmt":"2025-01-31T13:00:16","slug":"bitcoin-price-could-reach-123k-if-these-4-conditions-are-met","status":"publish","type":"post","link":"https:\/\/criptonizando.com\/en\/news\/bitcoin-price-could-reach-123k-if-these-4-conditions-are-met\/","title":{"rendered":"Bitcoin Price Could Reach $123K\u2014If These 4 Conditions Are Met"},"content":{"rendered":"\n

Bitcoin today registered a minor retreat, priced at $104,215.0, which is a 1.22 percent dip from the previous day. This decline has eaten some of the gains that were obtained, post-FOMC meeting, which suggests the volatility will only increase as the end of the month approaches. <\/p>\n\n\n\n

Despite the short wavering declines, the long-term projection for Bitcoin is still hovering in optimistic territory. As the trends have already started shifting, Bitcoin’s expected price<\/a> is being pegged at $123K within some months, making investors ask whether the expectation is too high at this stage.<\/p>\n\n\n\n

Bitcoin’s Path To A New All Time High<\/h2>\n\n\n\n

From the start of mid November 2024, Bitcoin seems to have entered into a sideways consolidation phase. Now, this cryptocurrency has attempted to break the resistance level on several occasions but has been unable to maintain a long term rally. Over the last 78 days Bitcoin has reached several local and global peaks, the most impressive being $110K on January 20. <\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

When looking at the previous activity reporting trends, some interesting things can be deduced. Also, BTC exhibited an increase of almost 14% between November 14 to November 22, 2024 to reach a value of $99,660.<\/p>\n\n\n\n

Data from the Fibonacci retracement tool used indicates that the second major resistance on the 161.8% Fib extension is found at $123k. For this reason, these bullish scenarios would warrant Bitcoin currently being at $123k but first set of market conditions have to be met. <\/p>\n\n\n\n

Four Factors That Could Push Bitcoin to $123K<\/h2>\n\n\n\n

For Bitcoin to break past its current<\/a> resistance levels and reach new highs, four critical developments must take place. First, it is breaking through the $105.5K resistance level, where Bitcoin previously faced rejection. This price zone has acted as a key barrier, stalling the post-FOMC rally. A decisive breakout above this level would indicate renewed bullish momentum, increasing the chances of an extended rally toward $123K.<\/p>\n\n\n\n

Another key factor is the divergence between institutional accumulation and retail investor behavior. On-chain data from Santiment shows that wallets holding 0 to 10 BTC (typically retail investors) have been declining, while whales holding 100 to 1,000 BTC have been steadily accumulating. <\/p>\n\n\n\n

As history would suggest, retail sellers tend to carry out their activities within consolidation periods, while institutional buyers are the real winners as they accumulate before major price breaking occurs. Should this trend maintain its consistency, there could be a strong signal in favor of Bitcoin’s powerful upside potential.<\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin today registered a minor retreat, priced at $104,215.0, which is a 1.22 percent dip from the previous day. This decline has eaten some of the gains that were obtained, post-FOMC meeting, which suggests the volatility will only increase as the end of the month approaches.  Despite the short wavering declines, the long-term projection for […]<\/p>\n","protected":false},"author":10,"featured_media":3979,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"tpgb_global_settings":"","kia_subtitle":"","footnotes":""},"categories":[1],"tags":[44,20,35,27],"class_list":["post-3976","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-blockchain","tag-crypto-market","tag-cryptocurrency","tag-digital-asset"],"acf":[],"yoast_head":"\nBitcoin Price Could Reach $123K\u2014If These 4 Conditions Are Met - Criptonizando<\/title>\n<meta name=\"description\" content=\"Bitcoin dips 1.22% to $104,215, trimming post-FOMC gains. 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