Bitcoin (BTC) is currently being viewed in different ways by traders. Some believe the cryptocurrency is in a bear phase, which means its price is going down or expected to fall (you can read more about bear phases here). Others think its current price doesn’t show its real value.
A crypto analyst, Sykodelic, is one of those who believe Bitcoin’s true value is much higher than its current price. They explained that the recent weakness in the market isn’t because of deeper issues, but instead it’s due to a temporary reset. Sykodelic thinks the bigger picture of Bitcoin’s growth is still strong.
Bitcoin’s Recent Market Move
In the last two months, Bitcoin’s price has been going down. Sykodelic says this pullback shouldn’t be confused with a complete failure. They called it a “structural reset.” A market structure is basically how different elements in the financial markets, like trading and pricing, work together (learn more here).
Sykodelic pointed out that Bitcoin’s overall market setup still looks good, even though its price is slow compared to other assets that are bouncing back. The analyst said Bitcoin’s price is tied to gold and global liquidity. Gold is a valuable metal often used for investments (learn about gold), and global liquidity refers to the availability of money in world markets (global liquidity definition). Using these factors, Sykodelic estimates Bitcoin’s current price is about 90% less than its actual value.
Predictions for Bitcoin’s Price
Sykodelic believes Bitcoin isn’t valued fairly. They think its price could rise to $153,000 soon based on their analysis. In fact, they predict Bitcoin might go up to $200,000 in the next few months, even higher than the fair value they calculated. About these predictions, Sykodelic said, “$200k for Bitcoin isn’t just a random idea. It’s not an impossible dream.”
Right now, Bitcoin costs around $89,000. Its trading volume over the last 24 hours is $28 billion. Trading volume shows how active the market is and can give clues about a coin’s popularity (check trading volume). Bitcoin’s price rose over 1% within one day but dropped slightly in the past week. It briefly hit $90,000 in the weekend but is now back under this level.
What’s Happening in the Larger Crypto Market?
Bitcoin is not the only cryptocurrency making news. Experts like Matt Hougan from Bitwise believe the market will get better by 2026. He mentioned that the usual four-year Bitcoin cycle (you can read about Bitcoin cycles here) might not matter much anymore. He thinks a steady, strong market will replace it, likely leading to new price records for Bitcoin next year.
Daan Crypto Trades, another analyst, called 2025 “a very messy year” for Bitcoin. This means there’s both buying and selling activity happening at high levels. They think 2026 will show if Bitcoin’s four-year cycle still works to predict its price trends.
Bitcoin is now testing the $90,000 range. Analyst Ali Martinez believes breaking above this level could push Bitcoin’s price closer to $91,000 or even $93,500. But if it doesn’t stay above $90,000, its price could fall back to $84,600.
In past market cycles, Bitcoin has followed a pattern where the price drops over 364 days from its highest point to its lowest. If this same pattern happens again, Bitcoin’s lowest point might be visible by October 2026. Martinez said this low could be around $37,500 based on historical data.
Additionally, $46,457 is seen as another important price level, where long-term investors usually start buying Bitcoin again based on indicators like the CVDD model.
The article was originally published on CryptoPotato.