The price will remain around $10,000 until it halves in May

Bitcoin’s recent market moves have sparked a contentious consensus over its short-term price direction, with traders openly asking whether demand is strong enough to withstand another bear market.

Investors and analysts remain bullish, helping to keep prices around $10,000 until they halve in May, based on the assumption that demand will continue in its current direction.

Jeff Dorman, chief investment officer at Arca, an investment management firm, said bitcoin seemed attractive to large hedge fund managers seeking to offset traditional market risk as companies such as Bakkt and fidelity opened their doors to new money amid current global economic tensions.