{"id":35461,"date":"2024-01-25T13:52:36","date_gmt":"2024-01-25T17:52:36","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=35461"},"modified":"2024-01-25T13:52:36","modified_gmt":"2024-01-25T17:52:36","slug":"bitcoin-bearish-outlook-analyst-predicts-price-nosedive-to-38130","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2024\/01\/25\/bitcoin-bearish-outlook-analyst-predicts-price-nosedive-to-38130\/","title":{"rendered":"Bitcoin Bearish Outlook: Analyst Predicts Price Nosedive To $38,130"},"content":{"rendered":"

The price of Bitcoin<\/a> has been on a bearish trend for the past few days now, which has led to several crypto analysts predicting an even more bearish action for the crypto asset in the near future.<\/p>\n

Bitcoin Price To Crash To $38,130<\/h2>\n

Ali Martinez, a well-known cryptocurrency analyst and enthusiast, has shared<\/a> a worrying prediction for the short-term price action of Bitcoin. The analyst took to the social media platform X (formerly Twitter) a few hours ago to share his projections with the crypto community.<\/p>\n

Martinez\u2019s forecast came amidst the recent crash craze encompassing the entire crypto market. The largest crypto asset has been suffering with significant pullback for a while now, with pricing dropping below the $40,000<\/a> price mark.<\/p>\n

According to the analyst, the latest decline in the price of Bitcoin can go below $38,130. Martinez stated that short-term holders of BTC would experience losses if prices go below the aforementioned price level.<\/p>\n

He also noted that the price decline could cause a \u201cpanic selling\u201d mode among short traders. As a result, these short sellers will look for methods to cut their losses.<\/p>\n

The post read:<\/p>\n

If Bitcoin\u2019s price falls below $38,130, short-term BTC holders could find themselves in the red. This potential Bitcoin dip might trigger a new wave of panic selling as these holders will seek to minimize losses.<\/p>\n

Nonetheless, Martinez has highlighted<\/a> that the bearish shift is just temporary, predicting that the BTC bull cycle will peak in late 2025.\u00a0In the post, he asserted that Bitcoin\u2019s current state is similar to previous bull runs that lasted from \u201c2015-2018 and 2018-2022.\u201d After that, he mentioned that market estimates suggest that BTC could reach a new peak by October 2025.\u00a0<\/p>\n

With his analysis, Martinez has forecasted a \u201c600 days bullish momentum\u201d for Bitcoin, presenting future profits for investors in the long term.<\/p>\n

Historical Trends Prove Further Correction In Price<\/h2>\n

Chief Market Strategist at Creative Planning Investor, Charlie Bilelo has noted<\/a> that historical trends suggest more price correction. According to the chief, \u201cHistory does not repeat itself, however it often rhymes.\u201d<\/p>\n

Bilelo underscored, that whenever there is a significant event in the history of BTC, there are always notable price corrections. He emphasized BTC<\/a> witnessed an 84% pullback after the December 2017 bull run.<\/p>\n

He highlighted a similar scenario that took place in October 2021 bull run. Then the rally began after the approval of BTC futures ETF and saw a 78% retracement afterwards.<\/p>\n

This pattern appears to be partially manifesting as evidenced by the spike in BTC\u2019s price earlier this year due to BTC Spot ETF<\/a> approval. Bilelo has pointed out a \u201c20% pullback\u201d so far since the products were allowed by the SEC.<\/p>\n

As of the time of writing, the asset\u2019s price is sitting at $40,088, indicating an over 5% decline in the past week. Data from CoinMarketCap shows that its market cap and trading volume are also down by 0.35% and 31% respectively.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

The price of Bitcoin<\/a> has been on a bearish trend for the past few days now, which has led to several crypto analysts predicting an even more bearish action for the crypto asset in the near future.<\/p>\n

Bitcoin Price To Crash To $38,130<\/h2>\n

Ali Martinez, a well-known cryptocurrency analyst and enthusiast, has shared<\/a> a worrying prediction for the short-term price action of Bitcoin. The analyst took to the social media platform X (formerly Twitter) a few hours ago to share his projections with the crypto community.<\/p>\n

Martinez\u2019s forecast came amidst the recent crash craze encompassing the entire crypto market. The largest crypto asset has been suffering with significant pullback for a while now, with pricing dropping below the $40,000<\/a> price mark.<\/p>\n

According to the analyst, the latest decline in the price of Bitcoin can go below $38,130. Martinez stated that short-term holders of BTC would experience losses if prices go below the aforementioned price level.<\/p>\n

He also noted that the price decline could cause a \u201cpanic selling\u201d mode among short traders. As a result, these short sellers will look for methods to cut their losses.<\/p>\n

The post read:<\/p>\n

If Bitcoin\u2019s price falls below $38,130, short-term BTC holders could find themselves in the red. This potential Bitcoin dip might trigger a new wave of panic selling as these holders will seek to minimize losses.<\/p>\n

Nonetheless, Martinez has highlighted<\/a> that the bearish shift is just temporary, predicting that the BTC bull cycle will peak in late 2025.\u00a0In the post, he asserted that Bitcoin\u2019s current state is similar to previous bull runs that lasted from \u201c2015-2018 and 2018-2022.\u201d After that, he mentioned that market estimates suggest that BTC could reach a new peak by October 2025.\u00a0<\/p>\n

With his analysis, Martinez has forecasted a \u201c600 days bullish momentum\u201d for Bitcoin, presenting future profits for investors in the long term.<\/p>\n

Historical Trends Prove Further Correction In Price<\/h2>\n

Chief Market Strategist at Creative Planning Investor, Charlie Bilelo has noted<\/a> that historical trends suggest more price correction. According to the chief, \u201cHistory does not repeat itself, however it often rhymes.\u201d<\/p>\n

Bilelo underscored, that whenever there is a significant event in the history of BTC, there are always notable price corrections. He emphasized BTC<\/a> witnessed an 84% pullback after the December 2017 bull run.<\/p>\n

He highlighted a similar scenario that took place in October 2021 bull run. Then the rally began after the approval of BTC futures ETF and saw a 78% retracement afterwards.<\/p>\n

This pattern appears to be partially manifesting as evidenced by the spike in BTC\u2019s price earlier this year due to BTC Spot ETF<\/a> approval. Bilelo has pointed out a \u201c20% pullback\u201d so far since the products were allowed by the SEC.<\/p>\n

As of the time of writing, the asset\u2019s price is sitting at $40,088, indicating an over 5% decline in the past week. Data from CoinMarketCap shows that its market cap and trading volume are also down by 0.35% and 31% respectively.<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-35461","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/35461","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=35461"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/35461\/revisions"}],"predecessor-version":[{"id":35468,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/35461\/revisions\/35468"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=35461"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=35461"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=35461"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}