Bitcoin’s Recent Downturn
Bitcoin’s price has slightly dropped from its yearly high of $38,000 to around $37,300. Numerous analysts are predicting further decline during the Thanksgiving period, citing historical trends for our trending cryptocurrency.
Past Thanksgiving Price Trends
Historically, Bitcoin (BTC) has seen price falls around Thanksgiving, with notable declines in the past 3 years. In 2020, Bitcoin (BTC) retraced by 17%, followed by a 10% fall in 2021 and a 5% decline last year.
Future Price Outlook
Analyst KALEO implies that investors should consider buying during the capacity dip, predicting a rise to $40,000 by year’s end. In addition, CryptoCon forecasts a new record-breaking peak for Bitcoin (BTC) by May 2024, shortly after the next halving.
Take Advantage of a Probable Bitcoin Dip?
Recently, Bitcoin’s price has slightly retraced from its yearly high of $38,000 to around $37,300. According to our trending digital currency analyst KALEO, the downtrend could continue during the Thanksgiving weekend, based on historical trends and price declines during previous years.
KALEO believes investors should not be worried about a probable fall and should consider “buying the dip” to benefit from probable lower prices.
Several of the Recent Bitcoin Bets
Looking ahead, KALEO predicts that Bitcoin (BTC) could soar to $40,000 before the year’s end, although a possible correction towards $34,000 is likewise expected. On the other hand, CryptoCon implies that Bitcoin (BTC) might spike to a new record-breaking peak by early May 2024, shortly after the next halving.
If you’re interested in exploring additional price predictions, you may want to look at dedicated videos from other prominent figures.
Hot Take
Bitcoin’s price has recently retracted from its yearly high, and based on historical trends, there’s a probable for further decline during the Thanksgiving period. Analysts like KALEO are recommending buying the dip, while predictions suggest a probable rise to $40,000 by year’s end and a new record-breaking peak by May 2024. If you’re considering investing in Bitcoin, now could be a good time.
Owen Patter is a distinguished crypto analyst, accomplished researcher, and skilled editor, leaving a notable imprint on the cryptocurrency landscape. As a proficient crypto analyst and researcher, Owen delves into the intricate realms of digital assets, offering insights that resonate with a diverse audience. His analytical acuity is harmoniously paired with adept editorial skills, allowing him to transform complex crypto information into easily comprehensible content.
