Despite the increasing apprehension that Bitcoin (BTC) may continue to decline in the coming weeks, potentially falling below the $40,000 threshold, one cryptocurrency analyst is of the opinion that the opposite will occur. He argues that bears are in the wrong and are “about to be murdered.”
In an X post on September 3, a well-known pseudonymous crypto trading analyst named Bluntz reiterated his core thesis and “base case for BTC,” which stated that Bitcoin was nearing the third wave of its last leg and was on the verge of reaching a new all-time high (ATH).
In fact, the expert’s analysis indicates that the inaugural crypto asset may ultimately reach the $80,000 region before consolidating during the fourth phase. Subsequently, the fifth surge could propel it toward $95,000 by October of this year.
However, trading analyst Alan Santana proposed that Bitcoin could experience a collapse to $38,000 within the next few weeks, as its moving average (MA) indicates a “ultra-bearish signal” and “confirms the bearish inclination and potential” due to its weekly decline below EMA8/13/21 in July.
Finbold reported on September 2 that other experts, such as another pseudonymous analyst named TradingShot, have expressed optimism regarding the original crypto asset’s potential to reach new highs via technical analysis (TA) and exterior catalysts.
All things considered, Bitcoin may indeed adhere to the trajectory established by the aforementioned crypto trading expert or pursue an even more optimistic trajectory, as exemplified by the renowned Cathie Wood Bitcoin prediction of $2.3 million and the total crypto market capitalization of $25 trillion by 2030.
That being said, it is imperative to conduct one’s own due diligence, which includes meticulously investigating market trends, staying informed about pertinent Bitcoin news, and reviewing the analyses of experts, prior to investing substantial sums of money in the cryptocurrency market, as trends can fluctuate rapidly.
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