An analyst for cryptocurrencies believes that Bitcoin’s value will be dropping soon. Soon after, they expect a Bitcoin bull run, boosting Bitcoin considerably. The analyst has been telling his many Twitter followers that Bitcoin will drop below $20,000 temporarily. However, the rally he predicts will be astronomical, going as high as $50,000, making a rather unusually high correction.
The analyst’s opinion is based on data from 2019. They had seen similar patterns taking place at the time. First, Bitcoin dropped down considerably, going below its support of $10,000, even going as far down as $6,000. It then soon came up with an astonishing rally, although this took quite a while to materialise.
A Closer Look at The Bitcoin Bull Run Prediction
We can now look at the analyst’s predictions in more detail. Currently, Bitcoin is at a level of around $26,000, where it has remained for a while. The Bitcoin Pound rate stands at around £20,600. They expect BTC to drop below a price point of $24,000, with a rally up to $30,000. What will then follow is a massive drop in retaliation, down to $21,000. Then, there will be a considerable Bitcoin recovery. After this second bearish shift, they expect the final large Bitcoin bull run we mentioned before.
The analyst has further predictions for other crypto coins in the market. This includes Ethereum (ETH). They expect the coin to have a slow ascent over the remaining months of 2023. What will soon follow, according to them, is a sudden breakout as 2024 rolls around. The Ethereum platform is very prominent in offering smart contracts, and so the analyst predicts high prices. We will have to see what the first few months will bring as 2024 comes in. They believe it will surpass even the $30,000 price level. This would be a very exciting opportunity for crypto traders.
