Expert Analysts Predict Bitcoin Price Dip Below $40K
Analyst DonAlt predicts Bitcoin could drop to the mid-$40,000 range, seen as a necessary correction for the continuation of the bull run. This analysis is based on Bitcoin’s recent retreat to $60,000 and the potential breach of crucial support levels. A break below $60,000 could lead to further downward movement, possibly reaching $52,000 or even $47,000.
Denis Baca and Katie Stockton’s Outlook
Denis Baca, Head of Product at Zivoe Finance, concurs with DonAlt’s projection, suggesting Bitcoin could decline to $60,000 before making parabolic moves. Historical patterns, including the retesting of the 20-week SMA support level in May, may see Bitcoin drop to $56,000. Katie Stockton of Fairlead Strategies warns that Bitcoin’s failure to stay above $61,100 to $62,200 could indicate vulnerability to further losses, presenting a challenging path ahead for the cryptocurrency.
- DonAlt predicts Bitcoin may drop to mid-$40,000 range as a necessary correction.
- A breach below $60,000 could result in additional downward movement to $52,000 or $47,000.
Denis Baca’s Perspective
- Denis Baca forecasts a Bitcoin decline to $60,000 before potential parabolic movements.
- Historical patterns point to a drop to $56,000 amid May’s 20-week SMA retest.
Katie Stockton’s Warning
- Katie Stockton highlights potential vulnerability for Bitcoin with failure to hold levels.
- A challenging path ahead is anticipated if Bitcoin fails to maintain positions above $61,100 to $62,200.
Decrease in Whale Activity Affects Bitcoin Momentum
Ali Martinez, a crypto expert, notes a decline in Bitcoin whale activity since March 14, indicating fading bull momentum. Reduced whale activity suggests a loss of confidence among major investors that could impact market sentiment. Martinez believes a resurgence in whale transactions could reignite Bitcoin bulls’ confidence.
Julio Moreno’s Analysis on Bitcoin Demand
CryptoQuant’s Julio Moreno points out a slowdown in Bitcoin demand, particularly surrounding Spot Bitcoin ETFs, potentially obstructing the cryptocurrency’s ability to rally. An increase in demand is deemed crucial for Bitcoin to witness significant price appreciation.
- Ali Martinez observes a decline in Bitcoin whale activity from March 14.
- Reduced whale activity implies a loss of confidence among major investors, affecting market sentiment.
Julio Moreno’s Insights
- Julio Moreno highlights a slowdown in Bitcoin demand, specifically in Spot Bitcoin ETFs.
- An increase in demand is essential for Bitcoin to experience notable price growth.
Market Volatility Post Halving Effect
The market is becoming more volatile, with the post-halving effect potentially jeopardizing Bitcoin’s bullish aspirations in May. Stay updated for the latest Bitcoin price developments.
By
By
By
