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Bitcoin (BTC) Might Crash Even More: Top Analyst Shows
As the cryptocurrency market continues to see significant fluctuations, a top analyst has warned that Bitcoin’s downward trajectory may not be over yet. The expert points out that there have been seven weeks of correction in a row, and if everything aligns, Bitcoin is set for another week of downside before it finally sees some relief.
The post-halving history of Bitcoin also suggests a great possibility of a correction in January. This volatility surge and uncertainty on the market should also increase by the end of winter. Furthermore, Bitcoin’s dominance is rising, which pushes altcoins to their limits, exacerbating their performance and potentially altering capital flows towards digital gold.
While it might seem like expecting a repetition of past trends is not an optimal strategy, markets are not guaranteed to follow historical patterns. The overall market picture remains intact – if BTC fails to hold important support levels, expect a price dive that will solidify the current trend on the market.
In other words, Bitcoin’s downward path may continue for another week before potentially turning around.
Source: u.today
