Analyst warns of brutal correction: loses Bitcoin more than 23% and ends the Bull Run 2023?

Analyst warns of brutal correction: loses Bitcoin more than 23% and ends the Bull Run 2023?

Bitcoin course: Analyst warns of more than 23 percent

The Bitcoin course for the $ 30,000 mark has been stagnating for weeks. Many investors wonder whether the Bullenmarkt 2023 is finally over. A renowned analyst now warns of a possible correction in which the Bitcoin course could fall by more than 23 percent.

In order to continue the upward trend, the Bitcoin course would have to break through the $ 30,500 brand promptly. A Twitter user named Crypto Tony made it clear in a tweet by describing the breakthrough of this brand as a signal for a course in the course.

The Bitcoin course is currently trading at $ 30.201 and is therefore just below the critical level. Chart expert Benjamin Cowen does not see any positive development for the course. He compares the current situation of the Bitcoin course with the 2015 and 2019 bear market and predicts an upcoming correction.

cowen emphasizes that the Bitcoin course in 2023 still follows the average of 2015/2019. If this development stops, the Bitcoin course can fall to $ 23,000 in the course of the year, which corresponds to a decline by more than 23 percent.

For investors who do not feel comfortable with a new crash of the Bitcoin course, an alternative option may be available. The BTC20 project enables investors to acquire a “Bitcoin for $ 1”. This is an Ethereum token that can be bought at a price of $ 1. Some investors speculate on a possible rise of this token and compare it with a potential "10x coin".

Despite the differences between Bitcoin and BTC20, the latter could be attractive if many investors decide to get started and thereby drive the price up. In addition, BTC20 offers staking functions with which investors can generate a passive income.