Trader Predicts Bitcoin Price to Drop to $25,000

A trader who predicted the bottom of the bearish trend for the Bitcoin market in 2018 believes that the leading cryptocurrency is unlikely to break the $30,000 level in the foreseeable future.

A cryptanalyst nicknamed Bluntz told his audience that bitcoin’s rise is probably over. The opinion is based on the fact that the first cryptocurrency has passed a five-wave bullish trend on the daily chart.

Bluntz believes that Bitcoin is now in the middle of an ABC correction formation. This could cause BTC to drop to the $25,000 region:

“I think something similar will happen with bitcoin and it makes the highest sense for me. The last correction lasted 41 days, the current one lasts only 14 days, which seems insufficient to me.”

Based on the Bluntz chart, he expects BTC to rise to $32,000 in the second half of 2023. Growth should occur immediately after BTC drops to $25,000.

Bluntz expressed confidence that Ethereum is also waiting for a correction, moreover, faster than BTC. On April 26, strong BTC volatility was recorded on the crypto market.

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