Top cryptocurrency analyst Capo suggested that the Bitcoin price crash is not over yet. This comes amid a rebound in the flagship cryptocurrency, rising from lows recorded during recent trading. Cryptocurrency market crash.
Analysts predict Bitcoin price to fall by 30%
in his latest work Market Latest InformationCapo predicted that Bitcoin prices could fall another 30%. This happened when he pointed out: Major virtual currency still exceeds $100,000far from the $60,000 to $70,000 range that would match a full market correction. He added that until then, there is still a strong chance of a downside.
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This market update came during the crypto market crash last Friday, after which Bitcoin fell to $104,000. President Trump’s announcement 100% additional tariffs on China. $19 billion disappeared from the cryptocurrency market, making it the largest liquidation event in history. Capo opined that this event was likely a “pre-black swan event” and the first step of something larger.
The analyst pointed out that altcoins have already experienced a historic capitulation, but some major coins have not yet completely flushed out. Capo argued that the core should eventually be filled, and that lower levels may still lie ahead. bitcoin price and the broader cryptocurrency market. However, he said a temporary consolidation is expected over the weekend, but further declines are likely to continue this week as global markets open.
Bitcoin prices soared over the weekend, rising to $116,000. long position They piled up again after a wipeout. crypto analyst King Fisher is highlighted The upside liquidity is at a maximum of $118,000, and he pointed out that “weekends are suitable for liquidation fishing in the BTC range.” It is worth mentioning that thanks to this, BTC also recovered. President Trump’s statement In a speech on Sunday, he allayed fears of a full-blown trade war with China.
The bull market isn’t over yet
crypto analyst Guaranteed by Titan of Crypt The bull market has not yet arrived, indicating further upside potential for Bitcoin prices. The analyst explained: bull market It starts when BTC regains the 50 SMA and a bear market starts when BTC loses it. The main cryptocurrency also exceeded $112,000 in weekly candlestick closing prices, confirming the theory of a virtual currency titan.
On the other hand, virtual currency analysts Jel pointed out Bitcoin price has returned to the $115,000 resistance area. He further stated that if this level of recovery is successful, the flagship cryptocurrency could reach a new all-time high (ATH). BTC is New all-time high It was above $126,000 before last week’s crash, wiping out October’s gains.
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At the time of writing, Bitcoin price was trading at around $115,100, up more than 3% in the past 24 hours, according to the report. data From CoinMarketCap.
Featured image from Pixabay, chart from Tradingview.com
