Against the backdrop of the fall of BTC at the beginning of the next working week, members of the crypto community shared their opinions on what awaits the cryptocurrency next. We tell you what Bitcoin forecast is given by experts of the crypto industry and what to expect from the digital asset market.
Bitcoin started the working week with a descent to $40,750. As of the time of writing, the cryptocurrency is trading 16% cheaper than the local maximum recorded on January 11, around $49 thousand. The coin reached its peak against the backdrop of the approval of spot Bitcoin ETFs in the United States and the launch of trading in the instrument.
Many members of the crypto community believe that Bitcoin is falling due to decreased interest in the market as the race to launch spot ETFs on BTC ends.
Bitcoin forecasts from experts of the crypto industry vary. Some are confident that BTC has already reached a local minimum, while others, on the contrary, expect the coin to plunge further. For example, the popular crypto blogger PROFIT BLUE supports a negative scenario. His Bitcoin forecast does not rule out a breakout of $30 thousand.
#Bitcoin – whats next ?
The big Sunday report, all you need to know:
🚩 TA/ LCA/ Psychological Analysis: Six weeks ago I gave you the exact plan on what market makers are truly planning right before we hit 48k region. Indeed, its to cause max hopium, putting tons of pressure… pic.twitter.com/KpNWyJrTG2
— Doctor Profit 🇨🇭 (@DrProfitCrypto) January 21, 2024
Doctor Profit, a popular analyst in the crypto community, in turn, believes that the immediate target for the cryptocurrency may be the level of $39 thousand. At the same time, he sees prospects for the growth of altcoins against the backdrop of a shift in focus from BTC to other crypto projects.
Some members of the crypto community have positive forecasts. In their opinion, a return of BTC to local highs is not excluded in the near future. One of the arguments is that the cryptocurrency chart shows patterns that previously caused the cryptocurrency to grow.
The CryptoCon analyst believes that everything is going “according to plan” – in accordance with the theory of cyclical movement of the digital asset market, which is based on the influence of halvings on BTC. He agrees that Bitcoin has updated its local maximum amid the launch of trading in spot cryptocurrency ETFs. At the same time, CryptoCon drew attention to the fact that the coin behaved approximately the same in previous cycles. In his opinion, cryptocurrency growth should be expected by the fall of 2024. According to the analyst, the coin can “spend” the entire spring and summer preparing for further positive movement.
