Bitcoin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-anticipates-steep-correction-as-market-analysts-project-price-decline" rel="noopener noreferrer nofollow">Bitcoin Anticipates Steep Correction as Market Analysts Project Price Decline</a><br></p>
<p style="text-align: justify">Experts in tech analysis, like CryptoCon, have voiced concerns about <a href="https://en.bitcoinhaber.net/bitcoins-bold-ascent-analyst-eyes-5-trillion-market-value" rel="noopener noreferrer nofollow">Bitcoin</a>‘s potential decline based on tools such as the Directional Movement Index, which hint at a topping out in Bitcoin’s latest rally. Mounting concern follows a sudden over 10% decrease in Bitcoin’s value, contrasting with CryptoCon’s earlier predictions.</p>
<h2 id="market-braces-for-significant-downturn">Market Braces for Significant Downturn</h2>
<p style="text-align: justify">A recent slump in Bitcoin’s market value has sparked conjecture over an impending downturn. Market analysts at Swissblock have cautioned investors in a social media update that Bitcoin might be due for a correction phase after its sharp increase the previous month.</p>
<p style="text-align: justify">At the time of reporting, Bitcoin has seen a 7.35% drop within a day, igniting discussions about Swissblock’s predicted bearish outcome materializing. Swissblock’s analyst and macroeconomist Henrik Zeber identified a troubling divergence between Bitcoin’s peak price at $73,750 and a declining Relative Strength Index. Zeber predicts a possible retreat to the $58,000 to $59,000 range, marking a 20% pullback.</p>
<h2 id="cryptocon-s-peak-timing-projection">CryptoCon’s Peak Timing Projection</h2>
<p style="text-align: justify">On March 13th, CryptoCon highlighted the possibility that Bitcoin may achieve a local maximum in the ongoing cycle in the forthcoming weeks to a month, or potentially as late as June.</p>
<p style="text-align: justify">The firm suggests that Bitcoin is poised to hit an initial cycle high near $100,000. CryptoCon foresees a downturn post-peak, with an eventual rally leading to a final zenith at approximately $200,000.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bitcoin-anticipates-steep-correction-as-market-analysts-project-price-decline" rel="noopener noreferrer nofollow">Bitcoin Anticipates Steep Correction as Market Analysts Project Price Decline</a></h5>

Bitcoin Anticipates Steep Correction as Market Analysts Project Price Decline

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