Fundstrat strategist David Grider based his bullish prediction in part on the promise of Ethereum's technology.
Bitcoin fell from $36,000 to $34,000 Wednesday morning, despite continued buying from investors.
Bank of America's January survey of fund managers indicated bitcoin is now seeing the most capital inflow.
Chainlink's LINK token set a new record price early on Monday, and other altcoins are seeing solid gains.
Prices fell by 6% in the seven days to Jan. 17, a weekly fall not seen since the first week of September.
The U.S. dollar's rise on the news maybe be playing spoilsport to the bitcoin bulls.
While a 31% rally to $50,000 in two weeks may be challenging to envision, it is far from impossible, given bitcoin's prior rallies.
Back in October, one trader made a long-shot bet that bitcoin would hit $36,000 by January. It paid off in a spectacular way.
Some are now forecasting an extension of Monday's 20% price drop as more bitcoin moves onto exchanges and institutional demand cools.
Some bitcoin traders are buying bullish call options at $52,000 and higher strike prices.
Having smaller orders in essence fools the market into thinking there is not much interest at those price levels when in fact there is.
Bitcoin's crash Monday came alongside a bounce in the Dollar Index.
Bitcoin fell sharply early on Monday, having failed to establish a foothold above $40,000 over the weekend.
After Joe Biden's inauguration on Jan. 20, an expected raft of new stimulus measures may further boost bitcoin's rally, say analysts.
Another day, another record high for bitcoin's price.
With the sudden rise, XRP has replaced litecoin as the fourth-largest cryptocurrency by market cap.
Chicago Mercantile Exchange now tops the list of the biggest bitcoin futures trading platforms, accounting for nearly 20% of all open interest.
Peaking implied volatility spreads suggest the emphasis in the markets will shift to ether and other alternative currencies in the short term.
The token is at the highest level since November 2018 in what one observer called a "perfect storm."
In 2018, legendary investor Warren Buffett referred to the cryptocurrency as "probably rat poison squared."
Analysts say the bitcoin market now looks less overheated than it did on Monday.
Bitcoin is increasingly competing with gold as an investment asset and has scope for substantial gains over coming years, according to JPMorgan strategists.
Bitcoin is charting a typical bull market correction amid increased expectations for price volatility.
Ethereum's native cryptocurrency, ether, jumped to its highest level since early 2018 following a 43% gain last week.
Coinbase Pro exchange registered an outflow of over 35,000 bitcoin worth more than $1 billion early Saturday.
Bitcoin nearly triples its price in 2020 and ends the year close to $29,000, but ether gained 450%.
The number of bitcoin whales rose to a new record high on Wednesday.
The move is viewed by some as a sign the Indian government is warming up to cryptocurrencies.
Huobi Global saw an influx of larger-than-average bitcoin deposits soon before the price drop, an analyst said.
Nexus Mutual's CEO, Hugh Karp, lost the tokens after an attacker gained remote access to his computer.