Bitcoin Price Crash Prediction
A crypto analyst predicts that the Bitcoin price could crash to $38,130, triggering panic selling among short-term investors. This dip would result in losses for these holders, leading to a new wave of panic selling. However, the analyst believes that this bearish turn is temporary, as the Bitcoin bull cycle is expected to peak in late 2025.
The analyst also mentions that Bitcoin’s current price movements resemble historical bull runs, and market projections indicate a potential peak in October 2025. This suggests that there are still 600 days of bullish momentum ahead for Bitcoin. Therefore, long-term HODLers can expect significant gains when this bull cycle reaches its top.
Bitcoin Price Struggles
The Bitcoin price is struggling to sustain above $40,000 and faces pullbacks after each attempted rebound. At the time of writing, BTC is trading at $40,111.13 with a market cap of $786.18 billion. The 24-hour trade volume has also decreased significantly.
Data from TradingView shows that the Bitcoin price is lower than its 10-day and 50-day EMAs. A close below the $38,000 level on the weekly chart could signal a potential downturn, targeting strong support around $33,000.
However, the analyst believes that various technical indicators form a significant line of defense that could prevent further price declines below $32,000.
Hot Take: Bitcoin Price Outlook
While the recent Bitcoin price dip has caused concern among investors, it is important to consider the long-term perspective. Although short-term traders may experience losses, the analyst predicts that the Bitcoin bull cycle will continue until late 2025, providing ample opportunities for growth.
Additionally, historical patterns suggest that price corrections during a bull run are followed by an upswing. This presents a potential “buy the dip” opportunity for traders looking to capitalize on Bitcoin’s potential growth. Overall, despite current challenges, the long-term outlook for Bitcoin remains positive.
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