Crypto Analyst Predicts Bitcoin Correction to $25k, Altcoins to Surge in 2024-2025

• Bitcoin (BTC) has been consolidating around $29,000 and lacking enough ammo for any further price action ahead.
• A trader anticipates that an upcoming Bitcoin (BTC) correction might lead to a drop to around $26,000 by the end of this month.
• Although the corrective move would induce fear in the market, it would also set up the base for the BTC price for a surge to $36,500 in 2024-2025.

Impending Bitcoin (BTC) Correction

Bitcoin (BTC), the world’s largest cryptocurrency, has been consolidating around $29,000 for a while and lacking enough ammo for any further price action ahead. The Bitcoin price volatility has hit new multi-year lows with analysts waiting for the next move. Currently, Bitcoin (BTC) has failed to move past $30,000 after multiple attempts with analysts expecting the BTC price to move lower towards $26,000.

Potential Panic

A trader anticipates that an upcoming Bitcoin (BTC) correction could create panic in the market before resuming its uptrend to $36,000. Inmortal, a trader with 195,300 followers on Twitter suggests that this drop could be initiated by delays in approving spot-based Bitcoin exchange-traded funds (ETFs). He notes that although this would create fear amongst traders it would also create an opportunity to accumulate for long-term investors.

Altcoins Uptrend Expected

Inmortal suggests that altcoins are expected to experience a robust upward trend in 2024 and 2025. He says he will be accumulating Chainlink (LINK) and Solana (SOL). He encourages people not to worry about current slow motion prices as there is potential for huge gains in 2024-2025.

SEC’s Role

It’s unlikely that the U.S Securities and Exchange Commission will approve a Bitcoin exchange-traded fund focused solely on spot markets soon due to regulatory hurdles. But if approved it could bring more institutional investors into cryptocurrency markets which may help drive crypto prices higher over time and fuel investor confidence overall.

Conclusion

Despite potential short term corrections caused by regulatory delays or news events causing panic amongst traders; long term investors should take advantage of these periods as they provide excellent buying opportunities before prices resume their upwards trend again later on down the line leading potentially huge gains in years ahead .

Kommentar hinterlassen