The past few months have been extremely volatile for Bitcoin: its price has fluctuated from below 60,000 to nearly 110,000, before sharply dropping to levels below $80,000.

Although the past week or so has been much quieter, this could be the calm before the storm. Market analysts have presented both bullish and bearish scenarios for the coming months.

Bears vs. Bulls: Who is Winning?

Just two months ago, it seemed that bulls were dominating the cryptocurrency market. However, zooming out, it becomes clear that in 2022 and at least the first half of 2023, bears were in control. So, what’s next?

Experts have outlined two possible scenarios for BTC in the coming months based on price ranges. The bullish scenario sees BTC rising  by 10,000 from its current level to reclaim resistance at 94,000. If this happens, the cryptocurrency could be on its way to a new all-time high of $112,000.

Such a move would increase its market capitalization to over $2.2 trillion, making BTC more valuable than silver, Alphabet, and Amazon (assuming their valuations remain unchanged).

The bearish scenario, however, is much more eventful (and, as expected, painful). If Bitcoin loses the $76,000 support that was tested last week, it could fall to $58,000 or even $44,000. A fall to the latter level would mean a nearly 50% collapse of BTC from its current price.

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