Bitcoin Warning: Major Correction Ahead, Says Top Strategist

There have been all kinds of predictions about the price of Bitcoin these days, especially since the king coin was able to hit $16k for the very first time in three years.

Bitcoin could see a strong correction

But, on the other hand, a popular analyst who goes by the name Loma in the industry is predicting a massive Bitcoin correction which is around the corner.

As you already know by now, Bitcoin does have a history of going through retracements following important moves to the upside, and he believes that traders should brace themselves for a really big one.

He also said:


On the other hand, it’s important to note the fact that he is not the only trader who believes BTC is about to crash big time.

Bitcoin starts to lose bullish steam

Crypto analyst Michaël van de Poppe also said that Bitcoin is starting to lose its bullish steam.

“You can see that there has been a massive rally and we’ve seen a nice 60% move since the low at the beginning of October, but it starts to show some over-extended moves,” he said.

He continued and said: “It’s not only on the three-day [timeframe], but it’s also [on] the weekly chart that’s showing that we might be getting into a period where we are ready for some corrective moves.”

At the moment of writing this article, BTC is trading in the green, and the king coin is priced at $15,994.84.


Companies Mentioned

CoinMarketCap
CoinMarketCap

CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.

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Andreas Townsend Author

I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.

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