Bitcoin Price Prediction: BTC To Face Another Price Drop Soon
The crypto market has been really volatile these days, but this was not enough to stop optimistic crypto predictions from pouring into the crypto space.
Bitcoin could drop to $6,000
Now, an important Bitcoin analyst surfaced after taking a break for about two months, and he’s sending traders a warning.
In a new tweet, the “whale whisperer” AngeloBTC tells his followers that he believes that the most important coin in the market is about to face another significant drop to about $6k.
After the drop, he expects a turnaround. Here’s what he said: “Patiently waiting for $6k BTC levels, where I will add to long-term holdings. Good luck homies.”
Analyst DonAlt also alerted his own followers of potential danger but in the short term.
According to the latest reports coming from the online publication the Daily Hodl, he said that BTC needs to cross $8,750 to trigger a sustainable shift in momentum.
“Still no close above $8,750. Still looks pretty shitty. I’m bearish until BTC starts reclaiming levels instead of getting rejected by them. Next resistance: $8,200. Next support: $7,700. Next support that I’d trust to trade on the long side: $7,000.”
Optimistic Bitcoin-related predictions
There are other predictions as well in the crypto space and some of them are pretty bullish on BTC.
For instance, technical analyst and manager of The Active Investor Service on Seeking Alpha, Brian Fletcher said that BTC is moving through an Elliott Wave pattern just as expected and now the most important crypto in the market is on its way to $70k.
Analysts are using the Eliott Wave theory in order to predict future price action by identifying crowd psychology that is manifesting in waves.
Anyway, at the moment of writing this article, BTC is trading in the red and the most important coin in the market is priced at $7,999.57.
CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.