In a compelling forecast for Bitcoin, Ali Martinez, a well-known cryptocurrency expert and trader, has pointed out a possible development that could propel the crypto asset’s price to the $86,000 threshold in the foreseeable future. Bitcoin Movement Determined By Key Levels The analyst’s positive perspective highlights the possibility of a large upward shift in the price trend of Bitcoin, igniting interest and speculation in the cryptocurrency space.  Ali Martinez’s analysis primarily focuses on several key support and resistance levels, of which a break out from these levels will determine the future trajectory of Bitcoin.  Related Reading: Are The Odds In Bitcoin Bulls Favor? These Analysts Forecast BTC’s Future According to the expert, it appears the digital asset has been gathering momentum in a parallel channel. As a result, the $61,000 mark becomes the most significant support level, while the $72,400 mark becomes the most crucial resistance level. Martinez affirms that Bitcoin might plummet toward the $56,200 and $51,600 range if it manages to surpass the aforementioned support level. However, should it break out from the $72,400 resistance zone, $79,000 and $86,000 are the next price targets to expect. Considering the UTXO Realized Price Distribution (URPD) chart, Martinez notes that $62,000 also proves to be an important support area for Bitcoin. If this level is lost, attention might move to the following significant demand region, which is situated around $51,500. On the other hand, the likelihood of the bull run rekindling would be largely increased should there be a rise back above $66,250. This suggests a new wave of confidence and enthusiasm from market investors and players. Martinez has also identified a notable shift in the accumulation trend score for Bitcoin lately. Specifically, the recent development marks the first time it has happened in six months, and it is now pegged at 0.27. This change suggests that BTC whales might be selling off their holdings rather than hoarding the crypto asset even more. Interest From ETF Investors To Impact Price Substantially Despite the negative performance of BTC lately, several analysts still believe the coin is headed for unprecedented heights. Crypto expert Willy Woo recently made a bold forecast, putting his price target at $650,000 at the bull market top and $91,000 at the bear market bottom. Related Reading: Bitcoin ETF Issuers Push Holdings To 4.27% Of BTC Supply Amid Crash To $61,000 Willy Woo expects the coin to top out at this level when ETF investors have completely deployed their capital based on asset manager recommendations. Furthermore, Woo stated that while these figures are quite cautious, Bitcoin will surpass the gold cap after ETFs have served their purpose. “Gold went on a 12-year bull run when its ETF was approved, now it is Bitcoin’s turn,” he added. In the last day, the price of Bitcoin has fluctuated between a low of $62,000 and a high of $66,000, ultimately concluding around $63,000. Its daily trading volume has decreased by 20%, indicating a declining intreest from traders. Featured image from iStock, chart from Tradingview.com

Popular cryptocurrency expert Cold Blooded Shiller has made a grim prediction that Bitcoin may be on the verge of a significant correction and could crash as low as 30%, given the current heightened volatility in the market.  Bitcoin Could Be Poised For 30% Pullback Cold Blooded Shiller believes it is important to note that Bitcoin is holding up and now showing much more strength, regardless of the different factors influencing the nascent sector, such as ETFs, fundamentals, and Halving. Related Reading: Analyst Expects Bitcoin Price Correction To Persist, Targets $57,000 Support Given that pullbacks of 30% are historically common for BTC, Shiller foresees the potential for this to repite this cycle. Should the trend manifest, the price of BTC could fall as low as $51,000 in the upcoming months. The post read: With the historical tendency to produce -30% pullbacks, what happens to the landscape if BTC does head down for a -30% correction and into the $51,000? Cold Blooded Shiller drew attention to a previous post offering investors insights on taking advantage of this development when it happens. Shiller is confident that BTC might undergo the correction mentioned above, and the impact on altcoins would likely be around -50%. The expert believes some investors are eager to profit in the bull cycle but neglect the risk involved in this period. “I keep referencing buy anywhere you want with risk management that supports -30% downside and ensure you can keep buying more,” he stated. Thus, the analyst has stressed the need for investors to be well organized and understand what constitutes an opportunity-filled environment in a bull market. His post encourages investors to reassess their risk management and investing tactics to navigate the ever-changing crypto landscape successfully. BTC Price Continues To Fall The price of Bitcoin continues to move downward, falling to $63,000 after a recovery witnessed on Monday. Over the last 24 hours, the crypto asset has dropped by 5%, causing a general collapse in the market. Related Reading: Bitcoin Halving RoadMap: Analyst Outlines 3 Phases For Market Dynamics At the time of writing, BTC was trading at $63,854, indicating an over 10% decrease in the past week. On the last day, its trading volume increased by roughly 1%, while its market value fell by over 5%. Given the current trajectory in the crypto market, BTC might suffer an even greater decrease in the next few days. Several analysts anticipate a further price decline before the Halving event in less than five days. Featured image from iStock, chart from Tradingview.com

Bitcoin (BTC) took a nasty spill over the weekend. Plunging to a gut-wrenching $60,850 before staging a partial recovery to hover around $64,500, this sudden price drop has left the crypto community scrambling for answers. Veteran trader Peter Brandt, known for his eagle eye on market patterns, has stepped into the ring to offer his insights, sparking debate about what this means for Bitcoin’s future. Related Reading: CEO Throws Cold Water On May Ethereum ETF Approval – Impact On Price Bitcoin At A Crossroads: The ‘End Run’ Theory Brandt, a seasoned campaigner in the often-unpredictable world of crypto trading, sees the recent price action as a potential turning point. He uses the intriguing term “end run” to describe this pivotal moment. Borrowed from the world of sports, an end run signifies a strategic maneuver designed to bypass obstacles and gain an advantage. In the context of Bitcoin’s recent dip, Brandt suggests it could be a strategic shift in the market dynamics, paving the way for a significant move in either direction. End run completed in Bitcoin $BTC@chartwizardsnft pic.twitter.com/YlHISyT85D — Peter Brandt (@PeterLBrandt) April 13, 2024 Brandt’s analysis hinges on a technical indicator – a symmetrical triangle pattern forming on Bitcoin’s price chart. This pattern often signals a period of consolidation before a breakout, either upwards or downwards. According to technical analysis principles, a breakdown from the bottom trendline of the triangle could usher in a bearish trend, while a breakout from the top could trigger a bullish surge. Brandt’s interpretation of the recent drop as the “end run” implies Bitcoin is poised for a breakout, but the question remains – which direction will it break? Bullish Undercurrent Despite Short-Term Jitters While the immediate future might be shrouded in uncertainty, Brandt maintains a firm belief in Bitcoin’s long-term potential. He has previously predicted Bitcoin reaching a staggering $200,000 by 2025, a testament to his unwavering confidence in the cryptocurrency’s ability to achieve substantial growth. Viewing the current dip as a healthy correction within a larger upward trend aligns with his overall bullish stance on Bitcoin’s trajectory. Total crypto market cap is currently at $2.352 trillion. Chart: TradingView The Crypto Market: A Balancing Act Between Fear And Opportunity The recent Bitcoin price drop and the subsequent analysis from Peter Brandt have exposed the inherent tension within the cryptocurrency market – a constant tug-of-war between fear and opportunity. Related Reading: Toncoin Defies Market Turmoil, Surges 25% To Tally All-Time High – Details Some investors see the dip as a golden buying opportunity, a chance to accumulate Bitcoin at a lower price point in anticipation of a potential bullish breakout. Others, scarred by the crypto market’s notorious volatility, remain cautious, wary of the possibility of further price declines. Featured image from Pexels, chart from TradingView