While the majority of traders and analysts anticipate Bitcoin to rise, one analyst has said that Bitcoin may soon retest the $19k barrier. In a brand-new video, Crypto Zombie outlined how Bitcoin will proceed despite the US SEC's lack of clarification.
He talked about regular investors and how the whales are currently reacting to the US SEC's lack of transparency. "I was saying that I am expecting a retest at a minimum down here at around $25,300," he continued. I believe there is a good chance we will obtain it. Of course, it is feasible that we may sink far lower.
He mentioned that the moving averages had dropped to 300, which he finds interesting when speaking about the on-chain data. Although the analyst predicted that Bitcoin will not reach the $15,000 level, he continued by saying that it might yet fall further and test the $19,000 mark.
He added, “Let’s just say hypothetically a 30 dip from this point, that would bring us down to about $19,200 it still wouldn’t put in the lower low.”
The price of Bitcoin is likely to rise in the near future, which makes sense logically, but volatility may persist for a longer period of time than anticipated. Bitcoin price could reach a potential high of $43,959.19 by the end of 2023 according to Coinpedia forecast. If the selling pressure increases as a result of unforeseen macroeconomic circumstances, the bulls' strategies may fail. If the analyst's prediction materializes, a 30% decline will rekindle market trepidation.
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Topic: Bitcoin Price Prediction - Crypto Zombie (Read 713 times)