CandleFocus Brace yourself: Bitcoin could crash to $31,000 soon
2024-09-08
Author: Content Editor
An analyst predicts further downside for Bitcoin's price based on historical behavior and the realized price-to-live ratio. The analyst suggests that Bitcoin could drop below $50,000 and potentially reach the $31,500 zone if it shows weakness. However, some analysts believe that the ongoing price adjustment could be the turning point for a bullish phase, with a prediction that Bitcoin could hit $100,000 by 2025. Another analyst suggests that Bitcoin could build the foundation for a record high of $150,000 based on technical indicators. Currently, Bitcoin is in a short-term consolidation phase below the $55,000 resistance zone and has corrected by about 1% in the last 24 hours. Overall, if Bitcoin fails to break past the resistance, it could potentially reach the $30,000 target set by the analysts.
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