{"id":15894,"date":"2024-08-07T13:11:49","date_gmt":"2024-08-07T10:11:49","guid":{"rendered":"https:\/\/forklog.com\/en\/bitcoins-uncertain-path-analysts-weigh-future-prospects\/"},"modified":"2024-08-07T13:11:49","modified_gmt":"2024-08-07T10:11:49","slug":"bitcoins-uncertain-path-analysts-weigh-future-prospects","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bitcoins-uncertain-path-analysts-weigh-future-prospects\/","title":{"rendered":"Bitcoin&#8217;s Uncertain Path: Analysts Weigh Future Prospects"},"content":{"rendered":"<p>Following a significant correction, the leading cryptocurrency shows no clear signs of a definitive trend. Experts and market participants are divided on Bitcoin&#8217;s future trajectory.<\/p>\n<p>Technical analyst and head of Factor LLC, Peter Brandt, believes that digital gold is poised for a major breakthrough. He observes that the coin may be repeating the post-halving pattern of the 2015\u20132017 cycle.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Price history of Bitcoin Halving Cycles <a href=\"https:\/\/twitter.com\/search?q=%24BTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BTC<\/a><br \/>Key points:<br \/>1. Current post halving correction is similar to 2015-2017<br \/>2. Post halving corrections in past two cycles indicate that a new bull cycle high could be many weeks from now <a href=\"https:\/\/t.co\/2dMvoJcrNx\">pic.twitter.com\/2dMvoJcrNx<\/a><\/p>\n<p>\u2014 Peter Brandt (@PeterLBrandt) <a href=\"https:\/\/twitter.com\/PeterLBrandt\/status\/1820824087523885359?ref_src=twsrc%5Etfw\">August 6, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The current 26% correction aligns with a period when Bitcoin fell from $650 to $474 \u2014 a 27% drop. Subsequently, the asset rose to $790.\u00a0<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cPost-halving corrections in the last two cycles indicate that a new bull rally high is reached many weeks after them,\u201d the analyst noted.\u00a0<\/p>\n<\/blockquote>\n<p>According to Brandt&#8217;s chart, the market is currently in a &#8220;shakeout&#8221; phase, having previously fluctuated around $70,000\u201373,000. The chart suggests a potential &#8220;pump&#8221; to $90,000.\u00a0<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Important to always deal with Possibilities<br \/>Not Probabilities<br \/>and never Certainties<a href=\"https:\/\/twitter.com\/search?q=%24BTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BTC<\/a> <a href=\"https:\/\/t.co\/4xwrcQpcHE\">pic.twitter.com\/4xwrcQpcHE<\/a><\/p>\n<p>\u2014 Peter Brandt (@PeterLBrandt) <a href=\"https:\/\/twitter.com\/PeterLBrandt\/status\/1820479001233863100?ref_src=twsrc%5Etfw\">August 5, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cIt is always important to work with possibilities, not probabilities, and never certainties,\u201d emphasized the head of Factor LLC.\u00a0<\/p>\n<\/blockquote>\n<p>Conversely, Marcus Thielen, founder of 10x Research, <a href=\"https:\/\/cointelegraph.com\/news\/bitcoin-40k-price-bull-market-entry-10xresearch-crypto-traders?utm_source=rss_feed&#038;utm_medium=rss&#038;utm_campaign=rss_partner_inbound\">believes<\/a> that for an ideal entry into the next bull rally, investors should wait for the price to drop to the lower mark of $40,000.\u00a0<\/p>\n<p>At the time of writing, the leading cryptocurrency is trading at $57,300, having gained 5% in 24 hours.\u00a0<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-qw.googleusercontent.com\/docsz\/AD_4nXdmk5qeWhfMJ2vtAOqzg4BwE9VbgJnfN99-roMQWQ5_Cfx8sYGHu_jBKGDkKwy67hBwXpbLXAWtT024DYJOQHIB4FGCsN2dRGgiW5l1w6tnUD2K3WgLpXEzqIU9tlTb5-3OGlM_lSNhC-vhp0RbvZc2zhpa?key=ljnAgkOLxq2YDylDM9iksw\" alt=\"Bitcoin's Uncertain Path: Analysts Weigh Future Prospects\"\/><figcaption class=\"wp-element-caption\">15-minute BTC\/USDT chart on Binance. Data: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSDT\/\">TradingView<\/a>.\u00a0<\/figcaption><\/figure>\n<p>According to YouTube blogger Crypto Rover, if Bitcoin fails to hold the support level around $48,000\u201349,000, it could plummet to $40,000.\u00a0<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">If <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> breaks this support, $40k is next. <a href=\"https:\/\/t.co\/nIsdTmr3rS\">pic.twitter.com\/nIsdTmr3rS<\/a><\/p>\n<p>\u2014 Crypto Rover (@rovercrc) <a href=\"https:\/\/twitter.com\/rovercrc\/status\/1820407147810681277?ref_src=twsrc%5Etfw\">August 5, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cI would love to see Bitcoin drop to $50,000 or even $40,000. It would be a great opportunity to make some money,\u201d <a href=\"https:\/\/x.com\/davidgokhshtein\/status\/1819012162976682417\">added<\/a> Gokhstein Media founder David Gokhshtein.<\/p>\n<\/blockquote>\n<p>On August 5, Timothy Peterson, founder of Cane Island Alternative Advisors, <a href=\"https:\/\/x.com\/nsquaredvalue\/status\/1820421264281936180\">suggested<\/a> that there is an equal chance of seeing digital gold at $40,000 or $80,000 in the next 60 days.\u00a0<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cNeither Bitcoin nor Ethereum show sustainable growth trends with a high <a href=\"https:\/\/ru.wikipedia.org\/wiki\/%D0%9A%D0%BE%D1%8D%D1%84%D1%84%D0%B8%D1%86%D0%B8%D0%B5%D0%BD%D1%82_%D0%A8%D0%B0%D1%80%D0%BF%D0%B0\">Sharpe ratio<\/a> that investors in the US stock market have enjoyed with minimal effort,\u201d Thielen emphasized.<\/p>\n<\/blockquote>\n<p>According to the head of 10x Research, the current price of digital gold still presents a buying opportunity, but suggests a stop-loss at $54,000, as \u201cthe risk of decline remains.\u201d<\/p>\n<p><span data-descr=\"Chief Investment Officer\" class=\"old_tooltip\">CIO<\/span> of Bitwise, Matt Hougan, <a href=\"https:\/\/experts.bitwiseinvestments.com\/cio-memos\/the-crypto-market-sell-off-what-happened-and-where-we-go-from-here\">recalled<\/a> the last similar correction on March 12, 2020, when \u201cthe world realized\u201d the seriousness of the COVID-19 problem.\u00a0<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cTech stocks were in free fall, as were commodities. We all thought the global economy would collapse. [\u2026] Among all assets, Bitcoin suffered the biggest crash, dropping 37% \u2014 from $7911 to $4971. It was a breathtaking one-day dump that wiped out a year&#8217;s gains in 24 hours,\u201d the top manager recalled.<\/p>\n<\/blockquote>\n<p>He believes a similar situation is occurring now, so it is important to remain calm and ignore sensational headlines in the media. Hougan&#8217;s observation of historical data points to a buying opportunity following the recent sell-off.\u00a0<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cBitcoin is a volatile asset with big ups and downs. It has always been that way and will be for some time. Such times confirm that timing the [market entry] is a waste of time,\u201d he concluded.\u00a0<\/p>\n<\/blockquote>\n<p>Earlier, CryptoQuant analysts stated that the price of the leading cryptocurrency has regained key support at $56,000, but uncertain trading indicates risks of a renewed downward trend.<\/p>\n<p>ForkLog previously discussed with experts the reasons for the dump and identified conditions under which major coins will begin to rise. Read the details in the article.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Following a significant correction, the leading cryptocurrency shows no clear signs of a definitive trend. Experts and market participants are divided on Bitcoin&#8217;s future trajectory. Technical analyst and head of Factor LLC, Peter Brandt, believes that digital gold is poised for a major breakthrough. He observes that the coin may be repeating the post-halving pattern [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":15893,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,1145,1150,1138],"class_list":["post-15894","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-market-analysis","tag-news-plus","tag-opinions"],"aioseo_notices":[],"amp_enabled":true,"views":"10","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/15894","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=15894"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/15894\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/15893"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=15894"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=15894"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=15894"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}