Bitcoin: Forecasts indicate further downturn, while analysts represent different opinions

Bitcoin: Forecasts indicate further downturn, while analysts represent different opinions

The leading cryptocurrency expert and pseudonymous analyst Bluntz recently made a forecast for the further course of Bitcoin (BTC). Bluntz, who already predicted the low point of the bear market in 2018, states that BTC could head for a deeper downturn.

Bluntz 'analysis is based on the BTC price movement in the four-hour chart and indicates a loss of momentum. This could lead to an ABC correction that could push the Bitcoin course under the $ 28,000 mark. In a tweet, Bluntz explained: "Here at BTC, a wild four-hour development is formed. I update my view a little and now expect a lower decline, a little further than just a simple 29,000 dollar swey, and rather think of (one movement) now in the $ 27,000."

If Bluntz 'forecast is correct, he expects a sudden repentance as soon as Bitcoin has reached its downward target. According to his graphic, this reversal could trigger a rally that drives the Bitcoin course beyond the resistance level of $ 31,500 and could possibly achieve a value of around $ 33,800.

Another crypto analyst called Inmortal agrees with Bluntz 'assessment and predicts that BTC will briefly break the psychological support of $ 30,000 before it becomes twisted again. Inmortal assumes that this decline under the support is very likely a bear trap and Bitcoin quickly reverses its course and increases in the direction of $ 32,000. In a tweet, Inmortal tears the possible scenario with the words: "A crash at the beginning of the week to break through.

On the other hand, the crypto strategist Rekt Capital represents a more optimistic view and assumes that the current consolidation of Bitcoin is only another phase of the renewed accumulation. REKT Capital is patient and explains: "If we are patient, we may see that BTC is in another reakcumulation structure, and that's only a matter of time."

These different points of view of the analysts illustrate the inherent uncertainty in predicting Bitcoin's short -term price movements. The cryptocurrency market is known for its volatility and even experienced analysts can be different. Investors and dealers should tackle these forecasts with caution and carry out thorough research before making investment decisions.