Bitcoin

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/analyst-highlights-bitcoins-long-term-growth-potential/" data-wpel-link="internal">Analyst Highlights Bitcoin’s Long-Term Growth Potential</a><br></p>
<p style="text-align: justify">Renowned for his accurate <a href="https://en.coin-turk.com/bitcoin-price-and-implied-volatility-show-negative-correlation/" data-wpel-link="internal">Bitcoin</a> (BTC) predictions, cryptocurrency analyst Dave the Wave highlighted a different perspective by suggesting that the recent price correction of the largest cryptocurrency is beneficial for its long-term bullish trend. The analyst also added that if Bitcoin falls below $60,000, the possibility of a parabolic rally would be eliminated.</p> 
<h2 style="text-align: justify" id="signal-for-longer-consolidation">Signal for Longer Consolidation</h2> 
<p style="text-align: justify">According to Dave the Wave, the current price movement indicating a longer consolidation for Bitcoin has been a healthy move. The analyst believes this consolidation phase will help Bitcoin establish a more stable foundation, triggering a stronger upward movement later in the year. He emphasized that a market driven by early parabolic fluctuations and high hype could result in lower peak prices compared to a more controlled and stable growth market.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-364878" src="https://coin-turk.com/wp-content/uploads/2024/06/Bitcoin-Analiz-Yorum-2.jpeg" alt="" width="1835" height="859"></p> 
<p style="text-align: justify">On the other hand, the analyst warned <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a> by adding that Bitcoin could fall to $50,000 and find support at the 0.382 Fibonacci retracement level. He emphasized that this drop would place Bitcoin back into the “buy zone” of the logarithmic growth curve (LGC) model.</p> 
<p style="text-align: justify">For those unfamiliar, this model is designed to filter short-term price volatility and predict Bitcoin’s long-term cycle bottoms and peaks. The analyst expects such a drop to put BTC into a renewed and solid bullish trend.</p> 
<h2 style="text-align: justify" id="strong-technical-indicators-and-market-sentiment-strong"><strong>Technical Indicators and Market Sentiment</strong></h2> 
<p style="text-align: justify">Dave the Wave believes that Bitcoin’s recent price movement below $60,000 is a signal for further consolidation. According to him, this consolidation is necessary for Bitcoin to rise strongly in the <a href="https://newslinker.co" target="_blank" rel="noopener" data-wpel-link="exclude">future</a> and form a stronger foundation. The analyst stated that a stable and gradual rise is more preferable and sustainable than a rapid and parabolic rise. This approach could enable the market to reach higher prices more effectively at a later date.</p> 
<p style="text-align: justify">At the time of writing, Bitcoin is trading at $60,686, a 0.25% drop in the last 24 hours, above the critical $60,000 threshold. As known, BTC had dropped to $58,400 on June 24, and the current prices represent a significant recovery.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/analyst-highlights-bitcoins-long-term-growth-potential/" data-wpel-link="internal">Analyst Highlights Bitcoin’s Long-Term Growth Potential</a></h5>

Analyst Highlights Bitcoin’s Long-Term Growth Potential

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