One of the top analysts of the crypto market has predicted that Bitcoin will hit 18k to 19k before another leg down. However, Bitcoin going anything above this is still very unpredictable and remains a suspense.
Will Bitcoin price breach $18k?
The market still seems to be bearish and the bears should step in to see this kind of high. After hitting this level Bitcoin will come down again to a lower low. The other possible scenario is that it will not hit a lower low. Instead, it will hit a higher low; if the market is more bearish.
There is an expectation of Ethereum hitting a lower low. If Bitcoin takes the higher low, then Ethereum will have to go to a lower low for taking these lows. Bitcoin has already taken its liquidity from the lows. It is anticipated to go above Ethereum. Ethereum, along with other Altcoins will hit a low and then Bitcoin will start showing strength against them, ultimately breaking out.
Invalidation level is clearly starting at 16k, thus, the validation level according to the analyst should definitely be somewhere around 18k to 19k.
Recommended Articles
So, Is The Bear Market In Crypto Finally Over?
The bear market was predicted to end by 2022, as we enter the new year. However, it is still very prominent in the crypto market. The dust from FTX debacle has settled but the market is yet far from entering the bullish momentum.
A bear market occurs when the market experiences a long-term decline in prices. It typically describes a situation where security prices fall 20% or more from recent highs amid widespread pessimism and negative investor sentiment.
Bear markets are often associated with declines in the overall market or an index such as the S&P 500, but individual securities or commodities can also be considered a bear market if they experience declines of 20% or more over a long period of time—usually two months or more. This market can also accompany a general economic downturn, such as a recession. It can be contrasted with rising bull markets.
- Cardano Whale Transactions Explode Hinting At ADA Price Reversal In Short Term
- Crypto Prices Today April 30: Bitcoin At 63K, ETH Slips, Helium & XRP Rally
- Ripple Collaborates HashKey DX To Facilitate XRPL Solutions In Japan
- Hong Kong Bitcoin ETFs Offer These Advantages Over The US ETFs
- Bitcoin and Ethereum ETFs Go Live In Hong Kong, Will They Meet Expectations?
- Cardano Outperforms in Whale Activity — What This Means for ADA Price
- Pepe Coin Price Forecast: Will Extreme Volatility Signal Major Sell-Off?
- 2 Crypto To Buy To Complete $1M Portfolio In May
- XRP Price Prediction As Cryptocurrencies Bleed: Will XRP Reach $1 Again?
- Lido DAO Coin Price Return to Yearly Support Hints Best Dip Opportunity