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<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/analysts-expect-bitcoin-to-drop" data-wpel-link="internal" rel="noopener noreferrer nofollow">Analysts Expect Bitcoin to Drop</a><br></p>
<p style="text-align: justify">Bitcoin investors are being advised to wait until the cryptocurrency’s price dips below $40,000 for an optimal entry point ahead of the next <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">bull market</a>, according to Markus Thielen, Head of Research at 10x Research. Thielen’s report from August 7 suggests that a price drop under $40,000 could be ideal for timing the next market surge.</p>
<h2 id="what-are-analysts-saying">What Are Analysts Saying?</h2>
<p style="text-align: justify">CoinMarketCap <a href="https://newslinker.co/how-does-artificial-intelligence-work/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">data shows</a> Bitcoin last hovered around the $40,000 mark on February 6, when it traded at $42,577. As of now, Bitcoin has seen a 12.89% decline since July 31, with a current value of $56,848. Other experts share a similar outlook. Timothy Peterson, founder of Cane Island Alternative Advisors, stated on August 5 that Bitcoin reaching either $40,000 or $80,000 in the next 60 days is equally probable.</p>
<p style="text-align: justify">Prominent <a href="https://en.bitcoinhaber.net/current-crypto-market-challenges-investors" data-wpel-link="internal" rel="noopener noreferrer nofollow">crypto analyst</a> Crypto Rover also indicated to his 808,400 followers on X that if Bitcoin breaks its current support level, a drop to $40,000 could follow, accompanied by a relevant chart illustration. Meanwhile, David Gokhstein, founder of Gokhstein Media, expressed a desire for Bitcoin to fall to $50,000 or even $40,000, viewing it as a prime buying opportunity.</p>
<h2 id="details-on-the-subject">Details on the Subject</h2>
<p style="text-align: justify">Bitcoin has been maintaining a solid support level of $60,000 since March but has recently dipped below this threshold for two consecutive days. Given the anticipated short-term volatility, Thielen recommends against a buy-and-hold strategy. He notes that Bitcoin and Ethereum currently do not offer the same high risk-reward ratios that US stock markets have recently provided:</p>
<p style="text-align: justify">“Neither Bitcoin nor Ethereum exhibit the stable high Sharpe ratio uptrends that US stock market investors have achieved with minimal effort,” Thielen stated. Despite this, he believes the current Bitcoin price could still be a buying opportunity, advising a stop-loss order at $54,000 due to ongoing downside risks.</p>
<p style="text-align: justify">“Especially since we have seen three consecutive days of outflows from ETF funds that do not appear to be buying this dip,” he added.</p>
<h2 id="investor-takeaways">Investor Takeaways</h2>
<ul>
 <li>Consider waiting for Bitcoin to drop below $40,000 before buying.</li>
 <li>Monitor market support levels closely, particularly at $60,000 and $54,000.</li>
 <li>Be mindful of short-term volatility and avoid long-term buy-and-hold strategies.</li>
 <li>Track ETF fund activities, as continued outflows could signal further price declines.</li>
</ul>
<p style="text-align: justify">In conclusion, while Bitcoin’s price currently presents potential buying opportunities, experts caution investors to be vigilant of market trends and price support levels before making significant investments.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/analysts-expect-bitcoin-to-drop" data-wpel-link="internal" rel="noopener noreferrer nofollow">Analysts Expect Bitcoin to Drop</a></h5>

Analysts Expect Bitcoin to Drop

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