Bitcoin: The bear market lurks. (Photo: Freepik, 24k Production)
Bitcoin (BTC) repeatedly fails due to an outbreak into Bullish’s territory. A renowned analyst now looks at devastating price goals, considers a decline of 47 percent possible. What is behind it – and can Bitcoin avoid the total crash?
Bitcoin and Ethereum lose $ 3 billion in 3 days
It would have needed a quick, sustainable increase of over $ 85,000 to prevent worse – but the bulls now seem to be slow. In the past week, the Bitcoin course was able to upgrade by 1.23 percent. So far, however, the momentum is not sufficient to compensate for the violent monthly losses of 12.67 percent. Within the last 24 hours, the cryptocurrency had to lose the bar at $ 86,444, fell to up to $ 83,700.
In the short term, a decline in the range of $ 70,000 is likely – and depending on the subsequent performance, there are further, significant downward movements. As the much-cited crypto market research company Glassnode shows in an analysis, the total value of all Bitcoin and Ethereum positions has decreased by $ 3 billion in the past 3 days. Such a drastic change in such a short time – that was last in 2023. Investors are currently reducing their positions drastically – why, it can be speculated. Profits according to the Run Gen $ 100,000 are just as likely as liquidated lever positions.
Bärenmarkt lurks: Bitcoin sees a forecast of 47 percent correction
One thing is certain: For around 6 weeks, the number 1 cryptocurrency has been listed under the psychologically important $ 100,000 mark. Although the course was able to buy at short notice – the profits had to be lost again and again. In other words, every new high was lower than the previous course – and these “Lower Highs” are basically not a good sign, they indicate a downward trend or a consolidation with falling dynamics. In other words, the bull market is swaying.
This is indicated by the popular crypto analyst Ali Martinez in a new Bitcoin forecast. In order to continue to rise, the asset has to buy around $ 10,000 promptly: “If Bitcoin cracks $ 94,000 and sticks to it, an increase to $ 112,000 is very likely,” said Martinez in the forecast. The required plus of 11.9 percent would be fundamental for Bitcoin within the framework of what is possible. At the moment, however, there is a lack of some – in liquidity, in interest, volume.
“Every on-chain metric signals a bear market,” warns the Korean crypto researcher Ki Young Ju in a forecast. Martinez adds: Bitcoin must not fall below $ 76,000 – Otherwise a downward movement probablyinitially at $ 58,000 and in the further decline to $ 44,000 (minus 47 percent!). That would finally mark the beginning of a new bear market. Mind you: it is a (currently) theoretical worst-case scenario.
“Best opportunity”: Grand investors rely on cryptocurrencies in 2025
A new survey The top crypto exchange Coinbase among institutional investors worldwide has shown: 83 percent of all respondents would like to invest more in cryptocurrencies in 2025. The reason? “The best opportunity to achieve (…) attractive returns”! Coinbase emphasizes: “An overwhelming majority (83 percent) of the investors surveyed plans to increase their allocations in cryptocurrencies in 2025, since they believe that cryptocurrencies offer the best opportunity to achieve attractive risk -cleaning yields in the next 3 years.”
The most popular cryptocurrencies among large investors are still Bitcoin (BTC) and Ethereum (ETH). Almost 3 quarters also hold other digital assets – but usually no more than 2. All the signs, according to Coinbase at the survey, would “indicate a positive dynamic”. The company is “firmly convinced that the future for cryptocurrencies is promising and that the optimism of institutional investors will prove to be justified”.
Disclaimer:
The author and/or connected persons or companies have cryptocoins, including bitcoins. This article represents an expression of opinion and no investment advice.