Expert Forecasts Bitcoin Price Could Approach $70,000, Relating to December 2021 Decline

As Bitcoin (BTC) remains below the essential $90,000 support level, many experts and market analysts are increasingly discussing the possibility of a new bear market on the horizon. Currently trading around $87,370, the leading cryptocurrency has fallen over 30% from its peak of more than $126,000, echoing behaviors seen in previous market cycles, particularly in December 2021.

Key Takeaways

Bitcoin is currently priced at approximately $87,370, down over 30% from its all-time high.
Historical patterns suggest a potential drop to $70,000.
Analyst CryptoKaleo forecasts a “supercycle” for Bitcoin, predicting new highs by 2026.

Bitcoin

Historical Patterns Resurface

On December 24, 2021, Bitcoin's price was about $51,700 before a rapid decline to $34,000 by January 24, 2022. This drop represented a considerable 34% decrease in just one month. An expert analyzing today’s market dynamics applied a fractal model from that previous sell-off to Bitcoin's current price movement. This model indicates a possible trajectory that could push Bitcoin towards the $70,000 level soon.

Bitcoin

According to this expert, if a similar trend continues based on present market conditions, Bitcoin could experience an additional decline of about 20%. However, uncertainty lingers—will the market rebound beyond significant price thresholds or spiral into an extended bear market as we approach the first quarter of 2026? Analysts have varied opinions on what may come next.

Analyst Foresees a ‘Bitcoin Supercycle’ Ahead

CryptoKaleo, another prominent voice on social media platform X (formerly Twitter), believes the current market bears resemblance to scenarios from the fall of 2020. Both instances involved Bitcoin failing to maintain a crucial support level following major market corrections, leading to a "mini-bart" effect where the price retraced almost all prior gains before establishing a new foundation.

In the recovery phase post-COVID-19 crash in 2020, traditional stocks, especially in the tech sector, substantially outperformed Bitcoin. Many began to suggest that the leading cryptocurrency was nearing irrelevance. Today, with equities consistently reaching new all-time highs, a similar story is unfolding, prompting some to argue that Bitcoin is stagnant and altcoins lack traction.

Yet, CryptoKaleo maintains a hopeful outlook, asserting that the current situation deviates from the typical four-year market cycle associated with cryptocurrencies. Instead of a prolonged bearish period, he anticipates that Bitcoin will hit new all-time highs in 2026 and initiate an exhilarating “supercycle,” characterized by extended upward trends, invigorating altcoin seasons, and a resurgence of retail interest in mainstream cryptocurrencies.

Bitcoin

The daily chart illustrates BTC consolidating below $90,000 in recent days.

Featured image from DALL-E, chart from TradingView.com.