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<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/analyst-predicts-bitcoins-next-major-move" data-wpel-link="internal">Analyst Predicts Bitcoin’s Next Major Move</a><br></p>
<p style="text-align: justify">Bluntz, a widely-followed cryptocurrency analyst, has shared his latest insights on <a href="https://en.bitcoinhaber.net/bitcoin-surpasses-65000-mark" data-wpel-link="internal">Bitcoin</a> (BTC). He forecasts a notable price movement for the leading cryptocurrency before it hits new record highs. Bluntz also issued a cautionary note regarding the altcoin dogwifhat (WIF), which has been in the spotlight due to its recent price surge.</p> 
<h2 id="what-is-the-drop-prediction">What Is the “Drop” Prediction?</h2> 
<p style="text-align: justify">Bluntz, active on social media platform X, suggests that Bitcoin is currently developing a bull flag pattern on a three-day chart. This pattern typically indicates a strong upward trajectory following a period of consolidation. According to the analyst, Bitcoin might experience one more correction, potentially dipping to around $60,000. This predicted drop is expected to serve as a foundation for a subsequent rally, pushing Bitcoin above the $80,000 mark. Bluntz emphasizes that given the prevailing <a href="https://finance.coin-turk.com/" rel="nofollow noopener" target="_blank" data-wpel-link="exclude">market conditions</a>, Bitcoin might consolidate for some time on higher timeframes.</p> 
<h2 id="how-will-altcoins-be-affected">How Will Altcoins Be Affected?</h2> 
<p style="text-align: justify">Bluntz expressed concerns about the repercussions of Bitcoin’s potential pullback on altcoins. He observed that while Bitcoin has shown resilience without major movements, altcoins have already suffered significant losses. A 12% drop in Bitcoin to $62,500 could be catastrophic for many altcoins, he warned. Nevertheless, Bluntz’s chart analysis presents a long-term bullish outlook for Bitcoin, predicting it will reach approximately $87,500 by year-end. At present, Bitcoin is trading at $67,480, having declined over 3% in the last 24 hours.</p> 
<h2 id="will-dogwifhat-wif-sustain-its-growth">Will Dogwifhat (WIF) Sustain Its Growth?</h2> 
<p style="text-align: justify">Bluntz also turned his attention to WIF, the primary asset of the popular altcoin dogwifhat. He forecasts a significant price decline for WIF. Based on Elliott Wave theory, he predicts that WIF will likely fall to $1. This theory posits that assets in an upward trend undergo an ABC correction following a five-wave rally. Bluntz believes WIF has completed its five-wave ascent, reaching around $5, and is now in the correction phase. Currently, WIF is trading at $2.54, with Bluntz’s chart indicating a continued downtrend that could bottom out near $1.068 to complete the ABC correction.</p> 
<h2 id="key-takeaways-for-investors">Key Takeaways for Investors</h2> 
<p style="text-align: justify"> • Bitcoin might see a correction to around $60,000 before a substantial rally.<br> • A potential 12% drop in Bitcoin could severely impact altcoins.<br> • WIF could decline to approximately $1 based on Elliott Wave theory.<br> • Bluntz predicts Bitcoin will approach $87,500 by year-end. </p> 
<p style="text-align: justify">The results of these predictions could have significant implications for investors, highlighting the importance of closely monitoring market trends and making informed decisions.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/analyst-predicts-bitcoins-next-major-move" data-wpel-link="internal">Analyst Predicts Bitcoin’s Next Major Move</a></h5>

Analyst Predicts Bitcoin’s Next Major Move

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