How dangerous is it for Bitcoin? (Photo: Freepik, Mobashir_Hossain)
Bitcoin (BTC) has repeatedly been ongoing explosive upward movements – but then has to lose the manageable profits again. The situation with Altcoins such as Ethereum (Eth), Cardano (ADA) or Solana (Sol) is even worse. Here many coin already tests new lows. In addition, crypto researchers warn in a recent Bitcoin forecast of a bear market multi-month. Does the reset come to $ 76,000?
Bitcoin: Prognosis looks at soon-to-be-course collapse
Minus 4.36 percent in Bitcoin (BTC), minus 18.34 percent in Ethereum (ETH) – and Cardano (ADA) even falls a whopping minus 30.78 percent: For weeks, the markets for cryptocurrencies have been under pressure, only briefly succeed in the coins. The persistently Bearish Prize campaign gnaws on the nerves, presses the mood: it is still afraid, such as The “Crypto Fear & Greed Index” shows. Finally in the basement was the sentiment in mid -2023: Bitcoin tried the $ 30,000 mark twice, but had failed.
Investors and analysts are currently particularly concerned with one question: Is the Bullrun over now? Macroeconomic uncertainty-Ukraine, customs chaos, inflation-burdens the markets for digital assets. But: Bitcoin demonstrates strength. Despite the enormous decline in shares, for example, the course has only fallen insignificantly – the asset seems to cope with the latest turbulence better. That suggests: investors worldwide consider Bitcoin increasingly as protection -despite its risk-on character.
This helps the bulls, but rather long -term than at short notice. “We are still in the danger zone,” warns the pseudonymous top crypto analyst “Donalt” in a forecast. Bitcoin can be “slightly rejected” at the present time. Even a movement of over 90,000 dollars is currently possible within the scope of the possible – but then collapsing and initiating a downward trend.
Panic sales in April? Bitcoin forecast causes a sensation
This coincides with a new forecast of the renowned Crypto market research institute Glassnode. That also sees bearish signals on the chart. Bitcoins volume-weighted 30-day course underneath the 180-day line, signaling “a declining dynamic”. The conclusion of the analysis: “Historically, this pattern was preceded by a 3-6 month downward trend.”
The well-known crypto entrepreneur and former Deutsche-Bank-Trader Arthur Hayes also provides a downward price target with: If Bitcoin can stay over $ 76,500 by April 15-the deadline for US tax returns, the cryptocurrency is “out of the worst out”. Or, formulated differently: a deeper correction is then no longer to be expected. Background: 76,5000 dollars is considered a critical chart level-only a decline underneath could result in panic sales and thus initiate a stronger downward trend.
So the usual crypto tremor game? That remains to be seen. After all: the reset and corrections at Bitcoin (BTC) are still running under “Business as Usual”, as industry observer Michael van de Poppe commented in a current forecast.
Crypto investors should relax, according to the Dutch to his more than 740,000 followers on X: In the USA, the “most advanced government of all time” has just been drawn that all lawsuits against crypto companies have been withdrawn-and financial giant Blackrock is also entering the market. All of this, says Poppe, are factors against which you shouldn’t bet. At the moment, Bitcoin is listed at $ 81,889 after a minus of 1.92 percent.
Disclaimer:
The author and/or connected persons or companies have cryptocoins, including bitcoins. This article represents an expression of opinion and no investment advice.