Bitcoin's recent price behavior has left many wondering about its next move. With market fluctuations and ongoing debates about the future of crypto, some see the current stability as a sign of strength rather than weakness. Roundtable anchor Rob Nelson and Scot Johnson, CEO of Digital Shovel, shared their insights into what these trends might mean for bitcoin’s future.

Nelson began by addressing the common concern: Is bitcoin going sideways, or is it simply range-bound? He expressed skepticism about the sideways trading recently, noting that while bitcoin does fluctuate, it has remained largely within a narrow range this summer. Scot Johnson agreed, pointing out that bitcoin has found strong support around the $50,000 mark. Despite occasional dips, Johnson emphasized that bitcoin's relative stability is a positive indicator.

The conversation shifted to why bitcoin's reduced volatility could be seen as an advantage. Johnson highlighted that the lack of extreme price swings might be beneficial for investors, making the market more predictable and less panic-driven. He also mentioned that past cycles of stability often led to significant upward movements, suggesting that bitcoin could still reach impressive highs by the end of the year.

Nelson and Johnson also discussed predictions for bitcoin’s price, with Nelson cautiously optimistic that it could reach $80,000 or more before year-end. Johnson remained bullish, standing by his previous prediction of $100,000. Both agreed that while volatility remains a factor, the long-term trend appears promising.

Crypto research fund Fundstrat has also reiterated its $115,000 bitcoin price target for the end of 2024.

Johnson concluded by reassuring investors that the current stability could be an ideal entry point into the market. He recounted past instances where similar periods of range-bound behavior preceded substantial price increases, reinforcing his belief that now might be the right time to invest in bitcoin.