Bitcoin Could Hit $160K—But a Painful BTC Drop Comes First
Bitcoin is currently encountering new lows as rising geopolitical uncertainty has pushed the asset down to new depths. The current BTC spiral is leading the token to explore new lows in the process. At present, Bitcoin is sitting at $101K, after briefly dipping to $99K last night. What is Bitcoin’s true future amid the brewing economic uncertainty? Let’s find out. Also Read: Iran’s Sepah Hack Is a Wake-Up Call—Bitcoin Cannot Be Erased Bitcoin To Hit $160K? Source: Watcher.Guru The current geopolitical uncertainty is hitting global markets. The fact that the US has intervened in the Iran-Israel conflict has prompted major assets, including BTC, to adopt a cautious approach. However, per a notable cryptocurrency analyst, Dan Gambardello, Bitcoin is still poised to hit $160K. Per Gambardello’s Analysis , BTC is displaying an inverse head and shoulders pattern on its chart. The pattern generally indicates a possible reversal from a downtrend before assuming a notable ascent. Thi...