Bitcoin (BTC) Surge Predicted: Analysts See 33.98% Rebound Despite Fear
- Bitcoin (BTC) experienced a decline of 3.01% today, thus not performing as well as the general cryptocurrency market.
- Short-term losses notwithstanding, Bitcoin is still up 17.34% on a year basis.
- On the other hand, with a generally optimistic view, the market analysts envisage a progress of 33.98% till the date of November 17, 2015.
Bitcoin (BTC), the number one virtual currency in the world in terms of market capitalization, is currently priced at $103,286, which is a 3.01% drop from the previous day. This downward trend in BTC price is in line with the overall market scenario and the total market capitalization of all cryptocurrencies has also decreased by 1.25% over the same time frame.
In the past month, Bitcoin has gone down by 10.45%, which has been a difficult period for trading. However, the digital coin is still priced $17,034 higher than in the same month last year when it was around $88,023.
The short-term trend of Bitcoin has suddenly changed to bearish and experienced a decline of 16.34% in the last 3 months. The coin has set its record high of $126,025 on October 6, 2025, but now is far below that level.
The peak of this cycle is at $107,291, while the trough is close to $99,013. The volatility has decreased even with the decline, with a 1-month volatility rate of only 3.54, and 16 days of price increase in the last month, indicating that Bitcoin is not entirely out of the fight.
Bitcoin Sentiment Remains Bearish but Hope Persists
At the moment, the Fear & Greed Index shows 26 (Fear), indicating that the investors are in a cautious mood. 73% of technical indicators are showing bearish now, with a total of 22 indicating more downside and only 8 predicting upturn. The analysts are of the opinion that the market’s fear could either cause a more pronounced decline or provide an opportunity for strong rebounds in case the buyers come in.
Nonetheless, there are a couple of signs which provide some reassurance. The Bitcoin price is higher than the 50-day and 200-day Simple Moving Averages (SMA), which are regarded as the main bullish indicators. The 14-day RSI of BTC is at 47.76, suggesting that the cryptocurrency is neutral and it is neither a case of overbuying nor overselling.
Key support levels are found at $101,228, $99,471, and $96,440. Resistance levels that should be monitored are $106,016, $109,047, and $110,804. Breaking through these resistances might lead to a resurgence of positive sentiment among the traders.
Also Read: $6.4 Billion Bitcoin Seizure: Chinese ‘Super Villain’ Jailed
Bitcoin Faces Short-Term Struggles
As per prognostications, Bitcoin might still increase by 33.98% in the upcoming five days, by November 17, hitting $138,183, although this is a challenging goal considering the existing market anxiety.
Bitcoin is hurt but still alive. The mood in the market is bad but the long term trajectory of the coin is bright. The coin has passed through more severe storms and has come out stronger. For the time being, patience and discipline are the best traders’ allies since with BTC, fear often comes just before the next rise.
