Bitcoin

The post <a href="https://coinpedia.org/price-analysis/top-analyst-is-bearsih-on-bitcoin-will-btc-price-drop-below-50000/">Top Analyst is Bearsih on Bitcoin: Will BTC Price Drop Below $50,000?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
The crypto markets appear to be trading within equilibrium as the Bitcoin price remains stuck within a range. While bulls are not able to reclaim the levels above $52,000, bears also do not appear to be capable enough to drag the levels below $51,000. However, Star Crypto is about to end this indecisive phase soon, which may cause the <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/" target="_blank" rel="noreferrer noopener">BTC price</a> to witness a fine drop, probably below $50,000.&nbsp; 
Has the Bitcoin bull run ended before it started or is it just a compression before the expansion? 
Regardless of the prevailing bearish pressure, the BTC price still carries a potential target above $55,000 before the end of the first half of the year. In the meantime, the price is expected to remain consolidated but fail to rise above the key resistance. As a result, a minor drop in levels is possible, according to top analyst <a href="https://twitter.com/CryptoMichNL/status/1759858786175442953" target="_blank" rel="noreferrer noopener nofollow">Michael van de Poppe</a>, with a plunge below $50,000.&nbsp; 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/QB5E_RRA_RF8K109tA196smzb-YgEvJwHcYw9ziGU9wNXCv5AMhyhEmMrHb1mOTLldDJDFZfSx_g1Tt6UqFFNYL8aGKia27YYxGZWQVQ9Cu9X7Da2GR1hAJQux9LYo2zYVRZ9eVFWTz-6EI35RsAfrU" alt="">
</figure> 
Referring to the above chart, the analyst highlights the rise of the bearish forces since the beginning of the week. As a result, the price is expected to experience a drain, which may drag the levels towards the lower support zone below $50,000.&nbsp; 
“At this point, I’m still leaning towards this scenario in which a flush on the downside seems likely.&nbsp; 
What’s the key zone to watch? 
I think $48.5-49.5K area for Bitcoin,” 
With this, one can expect a deeper retrace on the price in the coming days, which may halt the bullish upswing for a while. Meanwhile, the traders may still remain confident in the prevailing trend, as a strong rebound is expected to lift the levels towards the potential target above $55,000. Till then, the traders may consider each dip a good buying opportunity with enough research and analysis.&nbsp;

Top Analyst is Bearsih on Bitcoin: Will BTC Price Drop Below $50,000?

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