<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/analyst-predicts-bitcoins-potential-price-movements-3/" data-wpel-link="internal">Analyst Predicts Bitcoin’s Potential Price Movements</a><br></p>
<p style="text-align: justify"><a href="https://en.coin-turk.com/technical-analysis-of-bitcoin-key-levels-and-patterns/" data-wpel-link="internal">Bitcoin</a> price visibly dropped after rising to $65,000 and has fallen 10% in the last 3 days. Despite these declines, market analysts continue to provide optimistic explanations. One analyst reassured followers with a positive statement.</p> 
<h2 style="text-align: justify" id="analyst-s-bitcoin-commentary">Analyst’s Bitcoin Commentary</h2> 
<p style="text-align: justify">A closely followed market analyst says Bitcoin (BTC) is in the final days of its multi-month correction before its last parabolic rally in the current cycle. The analyst, known as Credible Crypto, stated on X that Bitcoin could drop to $50,000.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-384013" src="https://coin-turk.com/wp-content/uploads/2024/08/btc-beklenti-btc-coin-turk-com.png" alt="" width="612" height="312"></p> 
<p style="text-align: justify">The analyst shared a chart suggesting Bitcoin will trade around $50,000 before starting a parabolic rally to new record levels in the coming weeks (above).</p> 
<blockquote> 
 <p>Medium to high timeframe outlook for the coming weeks. Almost bull fam.</p> 
</blockquote> 
<p style="text-align: justify">According to the analyst’s chart, Bitcoin could rise to $100,000 by the end of September. Additionally, the analyst predicts Bitcoin will start moving towards a peak after surpassing $100,000.</p> 
<p style="text-align: justify">However, the analyst also mentions that the recent months’ mostly sideways price movement is an illusion and Bitcoin will likely reach much higher prices in the coming months.</p> 
<blockquote> 
 <p>The only takeaway is that all the ‘declines’ in the last five to six months were corrective (non-trending) moves or ‘reaccumulation’ before the next rise. Micro/short-term movements in this range are insignificant on a large scale (unless you’re an active trader like me).</p> 
</blockquote> 
<h2 style="text-align: justify" id="current-bitcoin-price">Current Bitcoin Price</h2> 
<p style="text-align: justify">The recent strengthening of the downtrend in Bitcoin price caused it to fall below $59,000. As of the time of writing, BTC is trading at $58,873 after a 4.76% drop in the last 24 hours.</p> 
<p style="text-align: justify">Following this drop, BTC’s market cap fell to $1.164 trillion. Meanwhile, <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a> looking to capitalize on the decline made strong purchases at these levels, with trading volume increasing by 46% to nearly $46 billion.</p> 
<p style="text-align: justify">The decline in BTC price is thought to be significantly influenced by <a href="https://newslinker.co" target="_blank" rel="noopener" data-wpel-link="exclude">news</a> that Kamala Harris might tax unrealized gains if she wins the presidential election.</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-predicts-bitcoins-potential-price-movements-3/" data-wpel-link="internal">Analyst Predicts Bitcoin’s Potential Price Movements</a></h5>
<p>The post <a href="https://en.coin-turk.com/analyst-predicts-bitcoins-potential-price-movements-3/" data-wpel-link="internal">Analyst Predicts Bitcoin’s Potential Price Movements</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.</p>

Analyst Predicts Bitcoin’s Potential Price Movements

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