Investing & Markets

Bitcoin Bear Market Looms: Analyst Predicts 50% Drop to $61,000

Bitcoin Bear Market Looms: Analyst Predicts 50% Drop to $61,000

After experiencing a remarkable surge that propelled its price to an all-time high of $124,000 back in July, Bitcoin has recently entered a period characterized by struggle and consolidation. While many market participants view this as merely a temporary pause before another upward trend, a prominent crypto analyst known as EXCAVO has presented a considerably more bearish perspective. According to EXCAVO, the prevailing market indicators suggest not a temporary halt, but rather the definitive conclusion of the bull market and the commencement of the next bear cycle. This assessment challenges the widespread optimism, urging investors to re-evaluate their positions in light of potential significant market shifts. Unpacking the Bearish Outlook: Why Bitcoin May Crash In a comprehensive analysis, EXCAVO meticulously outlines the rationale behind their conviction that the Bitcoin bear market has not only begun but is poised for a substantial correction. The analyst identifies several classic…

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