Bitcoin, $128,000 Target Emerges..."Is Everyone Shouting for a Decline Just Inciting Retail Investors?"

▲ Bitcoin (BTC) Bull Market

While market sentiment surrounding Bitcoin (BTC) has rapidly cooled, some analysts have instead raised the possibility of a strong upward reversal. Although volatility has increased after being rejected near the $83,000 mark recently, the analysis suggests that Bitcoin is preparing for a parabolic rise, contrary to the overall bearish market outlook.

Bitcoinist reported on May 23 (local time), citing crypto analyst Crypto Fergani, that most of the market expects Bitcoin to fall. Crypto Fergani stated in an X (formerly Twitter) post on May 21, “Everyone has become a bear, and everyone is shouting for lower price targets.” He argued that despite a flood of negative price forecasts in the market, there are no bearish factors for Bitcoin.

Crypto Fergani observed that major institutions are accumulating Bitcoin, and the global adoption rate of Bitcoin is accelerating. He concluded that the current market trend points to an upward potential, not a downturn. His argument is that those who believe the Bitcoin bear market is still ongoing might miss the upcoming rally.

He predicted that Bitcoin could soon enter a parabolic rise and set new all-time highs. As a basis, he presented the trend during the 2022 cycle. At that time, Bitcoin surged 54.2% after a period of bearish and sideways movement. Crypto Fergani believes a similar trend could unfold this time.

Crypto Fergani predicted that Bitcoin's upward trend could also affect altcoins across the board. He claimed that altcoins could rise by an average of 50 to 100 times. A chart presented alongside suggested that Bitcoin could rise from above the $74,000 level to $128,000. This represents an increase of over 72%.

A contrasting outlook also emerged. Crypto analyst Bee analyzed that Bitcoin is in the final phase of the market cycle before forming a true bottom. Bee observed that after Bitcoin peaked above $126,000 in October 2025, it faced selling pressure with every rebound. He diagnosed that the recovery after sell-offs weakened each time, and bullish momentum gradually decreased.

Bee pointed out that Bitcoin's decline is becoming more aggressive. He explained that individual investors call for a bottom every week, but the market repeatedly breaks through it. He warned that Bitcoin could continue a pattern of lower highs and lower lows until a strong sell-off phase emerges to flush out all excessive leveraged positions.

Bee predicted that Bitcoin could plummet to the $47,000-$52,000 range. This range was presented as a potential final bottom for the current market cycle. With both the parabolic rise theory and the sharp decline followed by a bottom theory being simultaneously raised in the market, the divergence in views regarding Bitcoin's direction is widening.

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