Rekt

BlackRock

<p>The post <a href="https://coinpedia.org/news/top-crypto-analyst-predicts-looming-crash-ahead-for-bitcoin-says-too-early-to-buy-the-dip/" rel="noopener noreferrer nofollow">Top Crypto Analyst Predicts Looming Crash Ahead For Bitcoin, Says “Too Early to Buy the Dip”&nbsp;</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>As the crypto market continues its price fall, investors are contemplating whether now is the right time to “buy the dip.” However, the CEO of 10x Research, Markus Thielen, issues a cautionary note against such actions, suggesting it might be premature to enter the market.</p>
<p>Meanwhile, Bitcoin’s resilience is on display, with its price swinging between $60,760 and $66,382 before stabilizing above $63,500.</p>
<h2 class="wp-block-heading" id="h-it-s-still-too-early-to-buy-dip">It’s Still Too Early to Buy Dip</h2>
<p>According to the <a href="https://mail.10xresearch.co/p/10" rel="noopener noreferrer nofollow">recently released report </a>by crypto analyst Markus Thielen on March 20 raises concerns about the potential risks associated with buying into the current market downturn.</p>
<p>Meanwhile, referring to an analytical model published on March 6th, Thielen predicts a <a href="https://coinpedia.org/price-analysis/how-low-bitcoin-price-might-drop-in-this-crash-heres-what-analysts-say/" rel="noopener noreferrer nofollow">looming “crash</a>” within the next 1-2 weeks, while acknowledging the possibility of subsequent price rebounds.&nbsp;</p>
<p>Looking at the ongoing market Thielen remains cautious, stating, “It’s still too early to buy in this downturn.” He sees the market’s shift due to less interest from regular traders, shown by fewer trades in altcoins and meme coins.</p>
<p>Moreover, Thielen highlights the occurrence of consecutive days of <a href="https://coinpedia.org/press-release/blackrock-bitcoin-etf-10-billion-btc-price-to-hit-100k-after-halving/" rel="noopener noreferrer nofollow">ETF outflows</a>, further amplifying market uncertainty. But Thielen says there’s a chance for things to change, especially if big investors like BlackRock start putting money in, which could make the market look different.</p>
<h2 class="wp-block-heading" id="h-technical-outlook">Technical Outlook</h2>
<p>From a technical perspective, Thielen predicts that Bitcoin could dip below the $60,000 threshold before attempting a significant recovery. While optimistic scenarios envision potential upside targets of $83,000 and $102,000 based on past signals of market highs.</p>
<p>Rekt Capital, another respected analyst, suggested a potential correction, citing historical pre-halving reversal patterns.</p>
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#BTC</a> <br><br>This current -18% Bitcoin Pre-Halving retrace is very close to equaling the -19% Pre-Halving retrace in 2020<a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a> <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Crypto</a> <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> <a href="https://t.co/bRCPXnBGFL" rel="noopener noreferrer nofollow">pic.twitter.com/bRCPXnBGFL</a></p>— Rekt Capital (@rektcapital) <a href="https://twitter.com/rektcapital/status/1770414124087869842?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">March 20, 2024</a>
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<h3 class="wp-block-heading" id="h-btc-current-stance">BTC Current Stance</h3>
<p>Bitcoin witnessed a 14% decline over the past week, with the current price hovering <a href="https://markets.coinpedia.org/bitcoin/?_gl=1*jdpnlw*_ga*NTQzNDc3MzQ4LjE2OTcxODMzODc.*_ga_RE1GG3FGQW*MTcxMDkwOTkxMy4xMzMuMS4xNzEwOTQ2NzU3LjYwLjAuMA.." rel="noopener noreferrer nofollow">around $64,177</a>. During the last 24 hours, Bitcoin traded within a range of $60,807 to $65,757, while trading volume remained relatively unchanged.</p>

Top Crypto Analyst Predicts Looming Crash Ahead For Bitcoin, Says “Too Early to Buy the Dip”

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