{"id":3083344,"date":"2024-01-25T00:03:51","date_gmt":"2024-01-25T05:03:51","guid":{"rendered":"https:\/\/wordpress-1016567-4521551.cloudwaysapps.com\/plato-data\/is-bitcoins-price-on-the-verge-of-crashing-to-30k-or-is-another-rally-incoming-analysts-chip-in\/"},"modified":"2024-01-25T00:03:51","modified_gmt":"2024-01-25T05:03:51","slug":"is-bitcoins-price-on-the-verge-of-crashing-to-30k-or-is-another-rally-incoming-analysts-chip-in","status":"publish","type":"station","link":"https:\/\/platodata.io\/plato-data\/is-bitcoins-price-on-the-verge-of-crashing-to-30k-or-is-another-rally-incoming-analysts-chip-in\/","title":{"rendered":"Is Bitcoin’s Price on the Verge of Crashing to $30K or is Another Rally Incoming? Analysts Chip In"},"content":{"rendered":"
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Bitcoin is barely pulling through the week as its price is clinging to $40,000. This marks its lowest level in seven weeks, prompting investors and analysts to discuss the next stop for the crypto asset.<\/span><\/p>\n

Despite the bearish sentiment propagating slowly in the crypto community, analysts and crypto investors remain positive on Bitcoin\u2019s long-term value and state that greater upside gains usually follow these price corrections.<\/span><\/p>\n

One of these analysts goes by the name of Ali_charts on X, who said that approximately \u201c600 days of bullish momentum\u201d remain for $BTC, only if it repeats historical patterns of past bull runs of 2015-2018 and 2018-2022. This means the next market peak could occur around October 2025.<\/span><\/p>\n

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If #Bitcoin<\/a> mirrors past bull runs (2015-2018 & 2018-2022) from their respective market bottoms, projections suggest the next market peak could land around October 2025.<\/p>\n

This implies $BTC<\/a> still has 600 days of bullish momentum ahead! pic.twitter.com\/hD3ApOg347<\/a><\/p>\n

\u2014 Ali (@ali_charts) January 24, 2024<\/a><\/p>\n<\/blockquote>\n

Other analysts share similar views regarding BTC\u2019s near future. For example, popular YouTuber and Cardano advocate says<\/a> BTC is retracting to key moving averages in \u201ctypical fashion,\u201d waiting for a bull market similar to the 2020 cycle. <\/span><\/p>\n

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Could BTC Fall Back to $30k?<\/span><\/h2>\n

While it seems Bitcoin has extended its losses week after week, investors have their eyes set on January 26 as $4.5 billion in <\/span>BTC monthly options expire<\/span><\/a>. This could be pivotal in determining the continuation of the downtrend. <\/span><\/p>\n

Nevertheless, most analysts seem to believe that there\u2019s still room for the bears, which could push prices even lower than $35k. <\/span><\/p>\n

Such is the case with popular crypto figure Arthur Hayes, who shared some of his thoughts and concerns regarding the trajectory of Bitcoin\u2019s price in a recently published <\/span>essay<\/span><\/a> called \u201cYellen or Talkin?\u201d. <\/span><\/p>\n

Hayes doesn\u2019t feel too optimistic \u2014 he anticipates a bottom in the range of $30,000 to $35,000 and attributes this projection to current market dynamics and upcoming decisions by key financial authorities, especially in the US.<\/span><\/p>\n

However, he still has a positive outlook for Bitcoin and the crypto market, as he <\/span>believes<\/span><\/a> the former could not only reach but exceed $1.3 trillion (in market cap) this year, bypassing its ATH in 2021.<\/span><\/p>\n

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