- Analysts debate the next moves for BTC.
- What is next for the price of Bitcoin?
- Some expect a lower high, others call for lower lows.
With the prices of BTC and ETH crashing down even further by the day, analysts continue to grow more bearish over the coming days and weeks ahead. What some hoped to be just another market correction is pointing to the real start of a heavily bearish market. Presently, analysts debate the next moves for BTC. They are arguing over lower highs or lower lows ahead for the pioneer crypto asset.
Analysts Debate the Next Moves for BTC
Over the last 24 hours alone, the price of Bitcoin (BTC) and Ethereum (ETH) have both been experiencing heavy price falls. To highlight, the price of the pioneer crypto asset, BTC, is down by over 7% falling from $91,000 to $85,000 , and continuing to drop at a rapid pace. Likewise, the price of the pioneer altcoin asset, Ethereum (ETH), has fallen over 8% in the last 24 hours, going from $3,000 to $2,700 in a rapid price decline.
Since August, only a handful of reputed and seasoned crypto analysts have called for the start of the bear market in the following quarter. These expectations came at times of high greed, when predictions for BTC and ETH to hit new ATH prices by the end of the year ranged from $200,000 to $250,000 for the price of Bitcoin and between $8,000 to $16,000 for Ethereum by the end of the year.
As we can see from the post above, some bearish analysts have grown even more bearish as BTC and ETH prices continue to fall. This analyst says that a few days ago, he expected BTC’s next move to take it to the $74,000 to $80,000 price range. Now he believes he was wrong and that BTC will sink to even lower prices, going as far as $68,000. He marks this as just his first bear target.
Lower Highs or Lower Lows head?
He follows this prediction up with another post where he declares that the crypto market is currently witnessing Bitcoin (BTC) truly enter its bear market. With that said, he reveals that the final target for BTC lies between $48,000 and $54,000 in Q4 of the next year. This prediction indicates that the crypto community is in store for a long bear market, one that could restart the 4-year bull cycle .
Finally, one reputed crypto analyst believes that there will be one final bounce in the coming days ahead. She says that as long as there is no change to bearish structure, it’ll likely end up in a lower high. She says that there will be a bottom in the market, but only when we can confirm it. Could this provide a relief window, allowing altcoins the opportunity to make one final altseason pump play?
