Has Bitcoin Bottomed? Top Analyst Predicts Next BTC Price

by James · December 7, 2022

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One of the crypto market’s top analysts has predicted that Bitcoin will hit 18k to 19k before another leg down. However, Bitcoin going somewhat above this is still very unpredictable and remains a tension.

Will Bitcoin Price Break $18k?

The market still looks bearish and the bears should step in to see this kind of high. After hitting this level, Bitcoin will come down again to a lower low. The other possible scenario is that it will not hit a lower low. Instead, it will hit a higher low; if the market is more bearish.

There is an expectation that Ethereum will hit a lower low. If Bitcoin takes the high low, Ethereum will have to go to a lower low to take these lows. Bitcoin has already taken liquidity from the downturns. It is expected to surpass Ethereum. Ethereum, along with other Altcoins, will hit a low, and then Bitcoin will begin to show strength against them, eventually breaking out.

The invalidation level clearly starts at 16k, therefore the validation level according to the analyst should definitely be somewhere around 18k to 19k.

So, is the crypto bear market finally over?

The bear market was predicted to end by 2022, as we enter the new year. However, it is still very prominent in the crypto market. The dust from the FTX debacle has settled, but the market is still far from entering the bullish momentum.

A bear market occurs when the market experiences a long-term decline in prices. It usually describes a situation where security prices fall 20% or more from recent highs amid widespread pessimism and negative investor sentiment.

Bear markets are often associated with declines in the overall market or an index such as the S&P 500, but individual securities or commodities can also be considered a bear market if they experience declines of 20% or more over a long period of time—usually two months or more. This market can also accompany a general economic downturn, such as a recession. It can be contrasted with rising bull markets.

Shourya is a crypto-fanatic who has developed an interest in Business Journalism in recent years. Currently working as a writer with Coingape, Shourya is also an avid reader. Besides writing, you can find her attending poetry shows, exploring cafes and watching cricket. As she says, “dogs are my home,” her first rescue of a dog was at the age of 7! She has always spoken for mental health and rainbow pride.

The content presented may include the author’s personal opinion and is subject to market conditions. Do market research before investing in cryptocurrencies. The author or publication has no responsibility for your personal financial loss.