According to trading experts and analysts, Bitcoin's recent upside correction does not indicate that it is out of a potential bearish trend. Credible Crypto, a well-known analyst, is cautious and waiting for clearer signals before publishing a new analysis. He believes there could be two potential bottom formations for Bitcoin: an aggressive drop and immediate bounce, or a period of consolidation with tightening volatility before a breakout to the upside. However, Credible Crypto sees the latter scenario as a low-probability event and expects short-term bearish dominance. Another analyst, Alan Santana, also sees a bearish chart for Bitcoin in a six-month downtrend. On the other hand, OpenAI's artificial intelligence model predicts that BTC will trade at $90,000 by the end of 2024, which is in line with the target set by trading expert Cryptorphic at $93,000. Investors and traders are reminded to adapt to market changes and consider different scenarios when making investment decisions.
- Content Editor ( finbold.com )
- 2024-09-15
Bitcoin is not out of the woods yet - What's next for BTC?