Future

Bitcoin

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/analyst-predicts-bitcoins-potential-decline-and-future-trends/" data-wpel-link="internal">Analyst Predicts Bitcoin’s Potential Decline and Future Trends</a> 
<a href="https://en.coin-turk.com/bitcoin-defies-the-odds-with-a-remarkable-rally-in-2023/" data-wpel-link="internal">Bitcoin</a> price recently fell below $60,000 for the first time in a long while, struggling to hold this level. The market lost the $70,000 level last week, leading to a noticeable decline. Data and <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">interest rate</a> policies from the US are believed to have significantly impacted this. 
<h2 style="text-align: justify" id="analyst-s-btc-comments">Analyst’s BTC Comments</h2> 
An analyst who made significant predictions about Bitcoin (BTC) in the past stated that the bull run for Bitcoin might be ending, and a period of significant declines could begin. 
Dave the Wave, an analyst, made important statements to his thousands of followers on X. His statement suggested potential chaos for BTC. He indicated that BTC might experience a downward price movement soon, possibly retreating to the 0.38 Fibonacci level at $50,000. 
<blockquote> 
 With the break of the trend line, a weighted view should shift towards more consolidation of BTC price in the short term. A range formation [0.23 fib] or support in the buying zone [0.38 fib] is expected. This could set the stage for a better Q4. 
</blockquote> 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-364721" src="https://coin-turk.com/wp-content/uploads/2024/06/bitcoin-gorunum-3-coin-turk-com.png" alt="" width="921" height="416"> 
The trader mentioned that he continues to monitor the monthly chart to obtain clearer results on the market’s reversal. 
<blockquote> 
 I still want to see a follow-up on a monthly basis to confirm the trend change… these things take time. 
</blockquote> 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-364722" src="https://coin-turk.com/wp-content/uploads/2024/06/bitcoin-gorunum-2-coin-turk-com.png" alt="" width="905" height="398"> 
Since the publication of a chart by Dave the Wave, Bitcoin’s monthly decline has become more pronounced, and it continues to stay below the support level. 
<h2 style="text-align: justify" id="analyst-s-2025-bitcoin-prediction">Analyst’s 2025 Bitcoin Prediction</h2> 
Recently, the analyst made another significant prediction. Ignoring short-term price movements in the market, Dave the Wave used the logarithmic growth curve (LGC) chart, which aims to reveal the long-term cycle lows and highs for Bitcoin, to predict that a market peak for Bitcoin could occur by December 2025. 
<blockquote> 
 If you adopt BTC’s four-year cycle theory, this might not help you much with the peak. However, if you adopt the LGC theory, it might be useful once again. 
</blockquote> 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-364723" src="https://coin-turk.com/wp-content/uploads/2024/06/bitcoin-gorunum-1-coin-turk-com.png" alt="" width="901" height="402"> 
According to the analyst’s examination, BTC price could exceed $300,000 by the end of 2025. 
As of the time of writing, Bitcoin price continues to find buyers at $60,300 after a 5.9% drop in the last 24 hours. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/analyst-predicts-bitcoins-potential-decline-and-future-trends/" data-wpel-link="internal">Analyst Predicts Bitcoin’s Potential Decline and Future Trends</a></h5>

Analyst Predicts Bitcoin’s Potential Decline and Future Trends

Table of Contents

COINTURK NEWS

Muita 24. kesäk. 2024 julkaistuja artikkeleja

Tether ceases USDT issuance on Algorand and EOS

LBank Exchange Will List DED On June 24, 2024

Bitcoin Price Drops to $60,567 as Market Faces Short-Term Challenges

Kadena Enhances Blockchain Scalability

KIF Warns Against Launching Bitcoin and Ethereum ETFs in South Korea

Phishing Scam Costs MakerDAO Delegate $11m In Crypto Assets

Join our free newsletter for daily crypto updates!