Many traders have been sitting on the sidelines from Bitcoin as it faces several challenges and struggles to end the present consolidation zone. BTC price is still hovering across $19,300 and is reaching sideways on lower timescales. The price is battling to gain momentum, since it has been fluctuating with the similar range for many weeks.
Here is the most interesting fact that BTC price is going initiate fresh rally!
Scott Redler, a professional trader, in his recent tweet said that Bitcoin is due on the point of another notable breakout. He believes that the BTC price will ultimately rise higher at present. The analyst predicted in the previous month that the price of Bitcoin may drop to $10,000 if it managed to hold the $17,600 target, which is constantly to be low in 2022.
Coinpedia states, Bitcoin Won't Crash 50%
A leading Cryptocurrency News outlet, Coinpedia states in its latest article that Bitcoin won't crash 50%. As many analysts predicted that the Bitcoin price is following a same price pattern as that of 2018, and therefore is on the verge of dropping 50% in the upcoming days. While the on-chain platform crypto quant has a distinct view, as per the platform, analyst comapring BTC's present price action to November 2018 is not correct.
As mentioned in the Coinpedia's Article, the market is already in a bear market and has gone through a drop similar to November 2018. According to the analysis, the November 2018 fall from $6K to $3K is likely similar to the drop from $30K to $18K. Cryptoquant claims that the market has already entered a bear market and has fallen similar to it did in November 2018.
Moreover, Onchain Edge concludes in the comments that present is a good time to begin accumulating Bitcoin on a dollar-cost-averaging basis. The analyst believes that the bottom is close, even if the price declines.
Here is the most interesting fact that BTC price is going initiate fresh rally!
Scott Redler, a professional trader, in his recent tweet said that Bitcoin is due on the point of another notable breakout. He believes that the BTC price will ultimately rise higher at present. The analyst predicted in the previous month that the price of Bitcoin may drop to $10,000 if it managed to hold the $17,600 target, which is constantly to be low in 2022.
Coinpedia states, Bitcoin Won't Crash 50%
A leading Cryptocurrency News outlet, Coinpedia states in its latest article that Bitcoin won't crash 50%. As many analysts predicted that the Bitcoin price is following a same price pattern as that of 2018, and therefore is on the verge of dropping 50% in the upcoming days. While the on-chain platform crypto quant has a distinct view, as per the platform, analyst comapring BTC's present price action to November 2018 is not correct.
As mentioned in the Coinpedia's Article, the market is already in a bear market and has gone through a drop similar to November 2018. According to the analysis, the November 2018 fall from $6K to $3K is likely similar to the drop from $30K to $18K. Cryptoquant claims that the market has already entered a bear market and has fallen similar to it did in November 2018.
Moreover, Onchain Edge concludes in the comments that present is a good time to begin accumulating Bitcoin on a dollar-cost-averaging basis. The analyst believes that the bottom is close, even if the price declines.
