Bitcoin's longest-ever period of negative year-over-year returns is coming to an end, according to Dan Morehead, founder of Pantera Capital, who believes that the market can only stay down for so long. Despite last week's downturn, Bitcoin is currently up over 20% from the previous year, and positive catalysts such as the XRP court ruling and endorsements from asset managers could further boost its value, along with the upcoming halving in April 2024. Morehead's models suggest Bitcoin could reach around $35,500 by the halving and nearly $150,000 by late 2025.
Bitcoin price reaches a 2-month low, but crypto analyst Michaël van de Poppe predicts a positive change in the future due to market cycle theories and the upcoming Bitcoin halving in 2024, potentially reaching a price of $50-55K pre-halving.
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.
Bitcoin has fallen below $26,000 as investors react to concerns about inflation and the possibility of higher interest rates, while other cryptocurrencies experience modest losses.
Bitcoin is down 11% in August and could potentially nosedive to as low as $10,000 in case of a global economic reset, according to Bloomberg Intelligence senior macro strategist Mike McGlone.
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.
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's spot trading volumes for the current quarter have been significantly lower compared to previous quarters, potentially indicating a decline of around 14% month over month, while Ethereum's trading volumes are also at a level not seen since 2019, suggesting a similar trend for the cryptocurrency.
Bitcoin and other cryptocurrencies are experiencing a decline as analysts predict further decreases ahead.
Despite the recent downturn in the crypto market, a key Bitcoin metric shows that 95% of the existing supply of Bitcoin has not moved in the past 30 days, indicating strong holding behavior and potential for a price rally with a buy-side catalyst.
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 could decline by more than 60% if Apple's market cap continues to decline, according to crypto analyst Nicholas Merten. A plummeting Apple market cap would have a significant impact on Bitcoin and other equities.
Bitcoin's performance historically strengthens in the final quarter of the year, with an average return of over 35%, and it could potentially reach $37,000 by year-end, according to Matrixport's report.
Bitcoin and other cryptocurrencies experienced a decline after the Federal Reserve decided not to raise interest rates, suggesting that significant gains may not be anticipated in the near future.
Bitcoin (BTC) could experience a market correction and drop to $20,000 this year, according to a crypto analyst, who points to historical patterns, the presence of a trading gap, and a dip below the 50-week exponential moving average as indicators of a potential decline.
Bitcoin may be heading for a further price decline according to a top trader who previously predicted the cryptocurrency's 2018 bear market bottom, citing a bearish lower-high setup and an ABC corrective move that could push Bitcoin down to $23,800.
Bitcoin halving, which is expected to occur in mid-2024, is already 85% complete, and the supply held by long-term holders is nearing its all-time high, suggesting that a mature bull market may not begin until next year.
Bitcoin and the S&P 500 are likely to end the third quarter lower due to the strong case for owning bonds over stocks, with government bonds offering a higher return, making them more attractive than risk assets like cryptocurrencies.
Bitcoin is on the verge of reaching levels that offer accumulation opportunities and could potentially start an uptrend, according to crypto trader Michaël van de Poppe, who compares the current price action to that of a pre-halving year.
Bitcoin's positive monthly return may be at risk due to a possible federal government shutdown, as the cryptocurrency faces a modest pullback, while other digital assets outperform the market.
Fidelity Investments' global macro director believes that a recession could lead to a significant rally for Bitcoin, with the potential for prices to reach $96,210 by the end of 2025 if interest rates decline. He also suggests that Bitcoin's correlation with equities has decreased, making it a potential source of uncorrelated returns in the next market cycle.
Bitcoin's price has fallen in the third quarter of 2023, but a positive monthly close in September suggests a potential recovery, and altcoins are also showing signs of strength, with Bitcoin's relief rally potentially reaching $28,000.
Bitcoin is expected to continue its upward trajectory, leaving behind traders who are waiting for a further correction, according to crypto analyst Credible Crypto.
The U.S. stock market had a relatively flat performance in the third quarter, with stocks falling 3.2% from where they started, while energy stocks had a strong rally and real estate stocks crumbled; the bond market experienced losses, and unless there is a sudden change in the outlook, it is on track for its third straight year of losses; value stocks outperformed growth stocks, and dividend strategies held up better than the broader market; the Fed maintained its higher-for-longer stance on interest rates, contributing to volatility in the bond market; and major cryptocurrencies, such as Bitcoin and Ethereum, ended the quarter down approximately 12%.
Bitcoin could potentially face a 60% price drop, as liquidity remains negative and global rates continue to rise, according to Bloomberg Intelligence senior macro strategist Mike McGlone. He also suggests that a stock market drawdown related to a recession poses the biggest risk for the overall cryptocurrency sector.
Bitcoin's price experienced volatility and dropped 2.1% after strong US employment data dampened expectations of further Federal Reserve counterinflation measures, but rebounded with $27,700 back in focus; Bitcoin open interest also declined.
Bitcoin could potentially drop by more than 46% if there is a recession caused by the Federal Reserve's actions, according to crypto analyst Nicholas Merten.
Bitcoin registered a loss of 11.1% in the third quarter of the year, defying recent positive developments in the crypto space, but there is hope for a recovery in the historically strong fourth quarter.
Bitcoin and other cryptocurrencies experienced a slight decline along with the wider market, but analysts are optimistic that the recent uptrend will persist.
Bitcoin has historically performed well on Friday the 13th, with prices rising an average of 1% on the day and surging by 14% and 66% in one and three months, respectively, afterward; however, there are concerns of a corrective phase within the crypto market due to challenges facing Ethereum and signs of weakness in the crypto markets.
Bitcoin and the broader crypto market are down following the U.S. Consumer Price Index (CPI) report, which showed slowing inflation, with experts noting that investors are increasingly viewing Bitcoin as a safe-haven asset and CPI figures are becoming less relevant for the crypto market.
Bitcoin and crypto markets are following a cyclical pattern, with bull markets typically occurring after halving events, but a significant pullback is anticipated in the period leading up to the next halving event in April or May 2023, potentially causing a drop in BTC prices.
Bitcoin, along with other major cryptocurrencies, has been impacted by the unstable U.S. fiscal situation and the potential collapse of the U.S. dollar, while Wall Street giants like BlackRock are poised to embrace bitcoin and revolutionize finance.
Bitcoin is poised for another meteoric rise due to the return of money printing by the US government, according to a trader who accurately predicted the end of the crypto's bull market in 2021, with Bitcoin potentially reaching a new all-time high of $180,000.
Bitcoin is set to end the year on a high note, with October gains approaching 30% and the cryptocurrency breaking through key resistance levels, setting the foundation for a potential uptrend in 2023, according to on-chain analytics firm Glassnode.
Bitcoin and other cryptocurrencies experience a decline after a recent rally, but still remain close to the year's peak, as traders anticipate further advances.
