Analysts Dividend On Where Bitcoin Goes From Here

The analyst community is divided on where Bitcoin (CRYPTO: $BTC) goes from here after the largest cryptocurrency by market capitalization rallied more than 20% in two days. 

Bitcoin is trading above at $77,000 U.S. on Aug. 21, up 23% from $62,800 U.S. at the start of the week, its best weekly performance since 2023. 

While investors are cheering Bitcoin's reversal, analysts appear divided over whether the rally is the start of a crypto comeback or a brief relief rally that could quickly fade. 

"This is generally what bottoms look like," said Mati Greenspan, a former senior eToro (NASDAQ: $ETOR) market analyst, in a media interview. 

Jason Fernandes, a market analyst, does not agree with the bulls, warning investors not to get too excited. "I'd be cautious about calling this the end of the bear market," he says. 

The comments show the divide that's gripping the crypto community as Bitcoin and other digital assets break through resistance levels they had been stuck below for months. 

Bitcoin and other crypto have taken off after the U.S. Treasury intervened to lower yields on government bonds and U.S. President Donald Trump called on Congress to pass the Clarity Act 

Ethereum (CRYPTO: $ETH), the second largest cryptocurrency by market cap, has risen 28% this week to trade at $2,390 U.S.