Bitcoin’s price is now back to its previous level of $124,000. phase of struggling and consolidation. Crypto analyst EXCAVO, however, has a bearish view. While some have called it a temporary halt, and expect the Bitcoin price will continue to rise once the drop is over. According to EXCAVO, current trends in the markets point to the ending of the bull run and beginning of a new bear market.
Why the Bitcoin price will crash
EXCAVO has outlined the reasons why in its analysis. believe The Bitcoin bear market had ended. There were three signs that were cited as classics of a market peak. This is the first sign, which was described by an analyst as “Universal Optimism.”
It is important to note that this universal optimism does not mean a lack of hope. everyone seems to be bullish At this stage, aside from the seemingly bullish development. EXCAVO says that the rise in optimism can be explained by the governments accepting cryptos and creating reserves.
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The next is the continued corporate purchasing, particularly for Bitcoin. Strategy and other public companies have acquired a large amount of Bitcoin. massive reserves of BitcoinEthereum Treasuries are also included. Now, these treasury corporations have purchased Bitcoin and Ethereum in the tens billions.
Not last, but definitely not least: positive news around crypto Media is dominated with the current topic. According to the analyst, with all of this positive press and investors waiting for higher prices like $200,000, $300,000 and $500,000 before selling, there is an indication that Bitcoin’s price has peaked.
Exit Strategy
Bitcoin Price Has Topped and Is Playing Into It headed into another bear marketThe crypto analyst explained to us that we have all sold. Plan is to buy back into the market in September 2026. According to the chart from the crypto analyst, the price of Bitcoin is expected to be below $61,000 by this date.
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According to the analyst, there is a cycle that says that between September 13 and October 6 are 51 weeks of declining followed by 151 of growing. According to this theory, the growth stage is over and the decline phase will occur between September 13th and October 6th. beginning of the reversal zone This is the beginning of the bear-market decline.
The crypto analyst will also be able to help you with your investment. dismisses the idea of an altcoin season. EXCAVO claims that due to the huge number of coins in circulation, which is currently over one million, it’s not possible to push all coins up simultaneously, as it was done last year. There will instead be selective pumping on altcoins which players find interesting.
“I have not become a bear forever. I believe Bitcoin will hit $300,000. But not in the coming months,” The analyst said. “It will be worth that in 2.5 years, after a healthy 50-60% correction from the peak.”
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Source: www.newsbtc.com
