The crypto market looks pretty bloody today at the moment of writing this article, Both BTC and ETH are trading in the red, just like the most important altcoins. Check out the latest BTC prediction below.
Bitcoin price prediction is out
A popular analyst and trader predicted a final capitulation phase for Bitcoin (BTC) before Bitcoin could realistically bottom out.
In a new video, crypto strategist Jason Pizzino said that Bitcoin has failed to follow through on a classic bottom pattern. He said that BTC now looks poised to print a new bear market low.
“When you get a signal like this – double bottom, any particular signal like that fail – you can see the breakdown here, once this goes beneath that bottom level ($18,600), that is a failure of a double bottom. That usually means you’re going to see lower prices, significantly lower prices than this current low ($18,600).”
The crypto analyst predicted a fresh leg down for Bitcoin. More than that, he says that the correction will not be as drastic as what BTC witnessed from January to June of this year.
The analyst offered a range where Bitcoin could realistically bottom out.
“We always pay very, very, very close attention to what the market sentiment is doing, and the market sentiment is fearful. So the drop-down in price may not be that much. Maybe it goes to $13,000, $14,000, $15,000, $16,000, but in terms of the emotion, it will be extreme. People will feel really, really bad about the move down.”
At the moment of writing this article, BTC is trading im the red, and the king coin is priced at $18,914. Stay tuned for more news and make sure to check out the crypto market’s prices as well.
The important figure in the crypto space, Willy Woo, said that Bitcoin is suppressed by a political agenda.