While Bitcoin (BTC) is in the grip of macroeconomic uncertainty and the FTX crisis, a senior analyst made striking statements.
Bitcoin Will Fall to This Level First!
A widely followed strategist has made important statements about the price of Bitcoin (BTC). Stating that a new selling pressure will emerge, the analyst claims that the decline in BTC will deepen. The analyst, known in the market as Kaleo, told his 545,700 Twitter followers that Bitcoin had lost its diagonal support on the one-hour chart and seemed ready for a drastic correction towards $12,500. According to the expert, hard corrections and selling pressure will continue before Bitcoin can recover to a large extent. Bitcoin is currently trading at $16,563.
According to Kaleo, Bitcoin will lose over 23% in value. The expert also claims that after testing the support level at $ 12,500, BTC will record an increase again for several reasons. Noting that Bitcoin is in the accumulation phase, the strategist predicts a real bull run towards the spring of 2023. After a period of horizontal consolidation towards the first quarter of 2023, Kaleo predicts that Bitcoin will eventually regain its upward momentum and rise up to $ 40,000.
According to the analyst, drastic corrections will continue in the short term, as shown in the graph above. In the long run, it is possible to draw an optimistic picture. It is not possible for Bitcoin to reach an all-time high in the spring of 2023. we will be heading towards the $30,000 to $40,000 December.
Then we have the halving incident in front of us. The Bitcoin halving, which is scheduled to take place in March 2024, is an eagerly awaited event in which the BTC rewards given to miners are halved. Kaleo ends his remarks by saying that BTC could see an all-time high in late 2024 or early 2025.
Many analysts and managers in the sector also point out that the tension in BTC may deepen due to the domino effect. BitMEX Founder Arthur Hayes made important statements about the Bitcoin price. The manager had previously stated that the Bitcoin price could fall further after the FTX fiasco. The expert stressed that BTC is starting to make sure that it is heading towards $ 10,000. The critical statement came after Barry Silbert warned that cryptocurrency company Genesis, a subsidiary of the Digital Currency Group, could potentially go bankrupt without financing
Are you following our Telegram address?