The Potential Future of Bitcoin: A Last Dip and a Promising Rise
In the world of cryptocurrency trading, the price of Bitcoin (BTC) is always a topic of interest and speculation. While there are various predictions about the future of Bitcoin, one commonly discussed scenario is a last dip followed by a significant rise. In this article, we will explore the possibility of a final drop in Bitcoin’s price and the potential factors driving it. We will also discuss the outlook for Bitcoin after this dip and the predictions made by prominent crypto traders.
Heading 1: Bitcoin Price Can Drop to $23,800
One trader who believes that Bitcoin has not reached its bottom yet is Bluntz, a well-known crypto analyst. Bluntz has set his eyes on the price level of $23,800, which would be the lowest price since March of this year.
- Bluntz’s prediction of Bitcoin’s “bodem” (bottom)
- The significance of the price level at $23,800
- Comparison with the lowest price in recent months
Bluntz shared his perspective on Twitter, stating that he does not think the bottom is in yet due to the structure of the market. He believes that the lows of $24,800 need to be convincingly broken before a true bottom can be established. He also suggests that the recent price action of the last 39 days might be part of a larger sideways correction. Despite this, Bluntz remains in the market, primarily holding stablecoins and awaiting further developments.
Bluntz is a strong proponent of the Elliott Wave theory, a technique that analyzes market trends based on mass psychology and wave patterns. According to his analysis, Bitcoin needs to undergo one more correction to complete the current ABC pattern.
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In 2018, Bluntz accurately predicted the bottom of the bear market. Can he repeat this success with his analysis this time?
Heading 2: What Comes After the Bitcoin Dip?
Another influential crypto trader, Tradinglord, also anticipates a final dip in Bitcoin’s price. He suggests that negative news related to the ongoing legal battle between crypto exchange Binance and the U.S. Department of Justice could trigger this last dip.
- Tradinglord’s expectation of a “capitulation dip”
- Potential impact of the Binance and DOJ lawsuit
However, Tradinglord holds a more positive outlook for the future. He believes that the approval of Bitcoin and Ethereum (ETH) exchange-traded funds (ETFs) in the United States is just around the corner. According to Tradinglord, this approval could lead to significant price increases for these cryptocurrencies.
The analyst expects Bitcoin to reach around $40,000 early next year. However, he suggests that the real fireworks will happen in 2025, a viewpoint shared by many other analysts and traders.
In conclusion, there is a possibility of a last dip in Bitcoin’s price, as predicted by traders such as Bluntz and Tradinglord. While Bluntz emphasizes the importance of breaking the lows at $24,800 to establish a true bottom, Tradinglord anticipates positive developments such as the approval of crypto ETFs in the United States. The future of Bitcoin remains uncertain, but these predictions provide insights into the potential trajectory of the world’s most popular cryptocurrency.