Bitcoin's current market structure is similar to its setup before reaching its all-time high in November 2021, suggesting a potential bullish trajectory for the leading cryptocurrency, according to crypto expert Credible Crypto, who believes a breakout from the accumulation range could lead to a 120% rally and new all-time highs this year. However, a drop below $24.8k would invalidate this prediction.
Bitcoin's price chart resembles the stock market in the 1930s, suggesting that the cryptocurrency could be heading towards a major drop, according to Bloomberg's senior commodity strategist, Mike McGlone.
Major cryptocurrencies, including Bitcoin, Ethereum, and XRP, experienced a price crash following concerns about the Federal Reserve and the delay of a spot Bitcoin ETF decision by the SEC, sparking anticipation for upcoming ETF decisions by BlackRock and other asset managers.
The recent crash in the crypto market has heavily impacted memecoins, raising concerns about a broader bear market, but it remains uncertain if this trend reflects a market reversion or just the typical underperformance of memecoins.
Ethereum may have reached a bottom in the bear market and is expected to break out from an ascending triangle pattern, according to crypto strategist Credible Crypto, who predicts a consolidation between $1,600 and $2,000 for the rest of the year before a surge in early 2024. However, they also hold a bearish view for ETH/BTC in the short term.
Bitcoin might experience a period of stagnation followed by a potential peak at $200,000 by the end of 2025 or early 2026, according to a crypto analyst, although short-term prospects for Bitcoin appear challenging due to a comparison with the 1930s stock market and oversold condition.
Key social metrics suggest that cryptocurrency markets may soon rebound, as the use of the term "bear market" has reached an 11-week high on social media platforms, which historically indicates that price rises are likely; additionally, deep-pocketed investors are accumulating Bitcoin again, contributing to a recent rally.
Bitcoin remains on track for a massive bull cycle despite recent price decline, as indicated by broader indicators of its price patterns and the use of logarithmic growth curves. The 200-week moving average is seen as less significant as a key price support level for Bitcoin, and the analyst is also looking for an entry point for Ethereum.
Bitcoin (BTC) is expected to enter a rangebound phase until at least Q4 2023, according to market participant Filbfilb, who predicts that miners and speculation around the halving event will drive prices higher later in the year. However, macroeconomic risks, such as the Federal Reserve's policies, remain a key factor that could impact Bitcoin's performance.
Bitcoin on-chain activity is at multiyear lows, with a decrease in velocity indicating a lack of major trading activity and new investors entering the market, resulting in a stagnant BTC price.
Bitcoin's recent correction and regulatory news have caused a wave of selling, but analysts from JPMorgan believe that the sell-off may be nearing its end phase, with limited downside predicted for the crypto market in the near term.
Bitcoin's price is closely linked to stock prices and has seen significant growth, outperforming Amazon over a 12-year period, according to Bloomberg analyst Mike McGlone; however, he is skeptical about its move into the mainstream and warns of potential price declines when the masses invest. Other analysts speculate on Bitcoin's price, with predictions ranging from a dip to $23,500 to exceeding $30,000 by year-end. McGlone is known for identifying unique trends in Bitcoin, and JPMorgan suggests that the recent crypto asset selloffs are mostly over.
Long-term holders of Bitcoin are continuing to accumulate the cryptocurrency despite recent market volatility, indicating a bullish outlook for the future, according to analysts from Bitfinex. However, newer long-term holders who acquired their positions during the bear market are showing more unease and have exited their positions during price drops.
The US Federal Reserve's actions will determine the start of the next Bitcoin bull market, depending on their monetary policy decisions and willingness to hold interest rates higher for longer.
Bitcoin's correction may not be over yet, according to a trader who accurately predicted the 2018 bear market, as he predicts a fresh move to the downside and a potential drop to $22,000.
Bitcoin could experience a major market correction in September, potentially dropping by more than 16% based on historical performance and predictions by crypto analyst Benjamin Cowen.
Cryptocurrency industry observers argue that Bitcoin is not in its longest bear market and may not even be in a bear market at all, as the definitions of bull and bear markets are subjective and can vary based on different interpretations. Some believe that Bitcoin has been in a bear market since its peak in November 2021, while others argue that Bitcoin has been in a continuous bull market since 2019.
Bitcoin's price dropped below $26,000 as the approval of a Bitcoin ETF was further delayed by the SEC, reversing the bullish gains from the Grayscale court decision earlier in the week. The crypto market also experienced a decline, with Ethereum's price going down by 3.5% and the overall market cap losing $11.2 billion. However, Maker and Toncoin managed to resist the bearish trend with positive gains. The global macroeconomic landscape also added to the uncertainty, as key economic data raised doubts about a potential interest rate hike.
Bitcoin experienced a decrease in August, with traders successfully predicting a bearish trend using Elliott Wave theory and range movement analysis, resulting in profitable trades; however, further price movements are still uncertain and may be influenced by the decision on the upcoming Bitcoin ETF.
Bitcoin is forming a bearish double top pattern, similar to the one seen in 2021 before the cryptocurrency's collapse, and a breakdown is expected if it drops below $26,000 with increased volume, according to Rekt Capital.
Bitcoin and other cryptocurrencies are experiencing a decline as analysts predict further decreases ahead.
Bitcoin is expected to experience a corrective move before resuming its bullish momentum and potentially surpassing its previous highs, according to a pseudonymous analyst who accurately predicted the lowest price of the cryptocurrency during the 2018 bear market.
Bitcoin's daily chart is showing a death cross, indicating short-term price momentum underperforming the long term, potentially leading to a bearish trend, while the strengthening U.S. dollar and macro developments suggest tough times ahead for risk assets, including cryptocurrencies.
Bitcoin's four-year cycles may not be directly linked to halving events, as an alternative theory suggests that they are more closely correlated with the global M2 money supply and macro patterns. However, analysts still anticipate a rally and new bull cycle following the next Bitcoin halving event in late 2024.
Bitcoin's price has fallen below its 200-week moving average, indicating a bearish trend, but historical data suggests that this could be a buying opportunity for patient investors.
Bitcoin (BTC) remains near a key long-term trendline as the U.S. dollar strengthens, with market participants predicting further downside for BTC and altcoins.
Bitcoin is predicted to enter a "mid-cycle lull" before starting a bull run in late 2024, according to a new price model, with the date of November 28th identified as a key pivot point in the year.
Bitcoin is predicted to experience another major dip before entering a new bull cycle, according to crypto analyst Benjamin Cowen, who believes the dip could form a double bottom pattern, a lower low, or a higher low depending on the timing.
Bitcoin's weak performance and its potential "double top" structure raise concerns of more downside, with predictions of new local lows; however, there are indications that Bitcoin may experience a major shakeout before rebounding to "fair value" and the 200-week EMA near $25,600 may offer some optimism; debate ensues over the possibility of Bitcoin filling the $20,000 CME futures gap; liquidity levels on BTC/USD markets continue to increase, adding to bearish predictions; ahead of the Federal Reserve meeting, the United States Consumer Price Index (CPI) data release on September 14 brings potential volatility to the market and may impact crypto market expectations.
The recent decline in the price of Bitcoin has raised concerns of a larger market downtrend, with Ethereum and Ripple also at risk of falling if Bitcoin weakens further.
Bitcoin (BTC) experienced a short squeeze, leading to a rally in prices and a decline in open interest in futures and perpetual swaps trading. However, the lack of immediate bullish catalysts may cap the price recovery.
Bitcoin's pre- and post-halving price action could differ from previous cycles due to a change in global monetary policy and tightening liquidity, potentially causing more pain for risk assets like Bitcoin and altcoins, according to crypto market analyst Jamie Coutts.
Bitcoin and other cryptocurrencies advanced on Friday, but a key technical indicator suggests that losses are likely coming.
Crypto analyst Jason Pizzino believes that Bitcoin's bull market cycle is underway and will be confirmed if it crosses the key level of $28,500.
Bitcoin has the potential to rally and reach a new high in 2023, according to an analyst, who also states that the current price action looks constructive after a period of downward trend.
Bitcoin and other cryptocurrencies have seen a rise in price as traders anticipate a potential macroeconomic catalyst that could lead to a significant movement in the market.
Bitcoin, ethereum, BNB, and XRP have experienced a strong price rally in 2023, but a small cryptocurrency has surpassed them, while the Federal Reserve's interest rate decisions could impact the bitcoin price.
The positive momentum surrounding Bitcoin's price is fueled by expectations that the Federal Reserve will not hike rates again this year, while market participants remain optimistic despite the strength of the United States Dollar Index.
Bitcoin and other cryptocurrencies experienced a decline in prices due to the Federal Reserve's monetary policy decision, signaling an anticipated return to range-bound trading.
