An analyst says that the last chance to buy Bitcoin (BTC) at an attractive rate may fall in the fall of 2023. After that, Bitcoin and the entire crypto market will enter an active growth phase.
As the crypto market has been in a bearish trend for around two years, there is speculation on what would be the best price to buy Bitcoin before the start of a new bull rally.
Analyst Believes Bitcoin Will Fall to $25,000
Timothy Peterson, investment manager at Cane Island Alternative Advisors, believes that Bitcoin could fall below the $25,000 level before the end of September 2023.
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According to Peterson, the decline will be the last opportunity to buy cryptocurrency at an attractive rate before the market moves into a growth phase. The Bitcoin analyst wrote:
“There is a 50% chance that #bitcoin will drop below $25,000 before the end of September. This would be the last big dip before the next big bull run cycle commences.”
The analyst accompanied his post with an image that reflects the statistics of the movement of the Bitcoin rate by month.
The Bitcoin analyst also gave a forecast, according to which the cryptocurrency will be able to break through the $100,000 level in the spring of 2026.
The sentiment of the crypto community is turning bullish as the Bitcoin halving is less than a year away. Historically, the halving event has marked the start of a new bull rally.
If the US Securities and Exchange Commission (SEC) approves the spot Bitcoin exchange-traded fund (ETF), it could prove to be a catalyst for the upcoming bull run.
Meanwhile, the Dutch Bitcoin analyst PlanB has shared an indicator predicting the bull run for the next two years. However, investors should not completely rely on the information shared by analysts as their predictions might often turn out to be incorrect. Investors should do their own research before buying or selling cryptocurrencies.
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