BTC delivered the long-awaited volatility on September 27. This was because it had moved beyond $20,000 with a higher price squeeze. BTC has gained over 7% in the last 24 hours, according to TradingView data. The asset saw local tops of $20,344 before consolidating around $20,200. So what levels are next? 7 analysts shared their predictions for Bitcoin.
Capo: “I am currently bullish for Bitcoin”
Popular crypto analyst Il Capo of Crypto remains committed to a theory that predicts a drop below $19,000 seen last week. However, he expects “more bullish for now” after the recent rise. cryptocoin.com As we reported, Capo recently claimed that after the Bitcoin price reached $23,000, it would create a new bottom.
Santiment: “Massive profit-taking begins”
Blockchain research firm Santiment noted that BTC has begun to generate massive profits. The firm’s view came as Bitcoin re-crossed the $20,000 mark for the first time in more than a week. “Many investors were waiting for the $20,000 threshold to start selling their holdings,” Santiment said:
“As Bitcoin climbed above this psychological level, it started to generate massive profits. Now we will find out if those who are eager to sell BTC will regret their decision.”
Material Indicators: “Everything depends on bulls resistance”
In-chain analytics firm Material Indicators made a new post. Accordingly, for Bitcoin, everything now depends on the bulls defending the level until the monthly close. According to the firm, if BTC closes in the green this Friday, this will make it possible to make profits “all the way.” Currently, BTC is up 0.7% on the monthly chart. According to Coinglass data, it’s possible that September will end in “green”. If that happens, it will be the first high close in September since 2016.
CryptoQuant: “Bitcoin price could easily drop”
CryptoQuant analyst MAC.D noted the increase in the inactivity of institutions and whales. According to him, a minor price shock is likely to trigger a market downturn. The analyst examined the decline in Bitcoin speed and the speed of Bitcoin distribution in the market. Accordingly, the volatility of BTC has been on the decline since June, which indicates that transactions are declining. Another recent post by Santiment revealed that Bitcoin whale addresses fell to 29-month lows.
Justin Bennett: “Bitcoin has not bottomed yet”
Veteran crypto trader Justin Bennett said that BTC is in a descending triangle price pattern. He then stated that it may be about to fall into a price range of between $5,000 and $12,000. Bennett’s posts tell investors to expect lower lows this year.
Mike Novogratz: “BTC should take a break”
Galaxy Digital CEO Mike Novogratz expects Bitcoin to take a break from its lackluster price performances in the last 10 months as the Fed started to tighten its economy.
Invest Answers: “We will see a big boom in the next 8 years”
Crypto analyst alias Invest Answers shared his long-term Bitcoin prediction to his 444,000 followers. Accordingly, the analyst says that the asset will attract more users in the long run. He also suggests that this increase in adoption will create an explosion in price. According to him, the increase in adoption will skyrocket the BTC price by 2030. The analyst says that in 2030, Bitcoin will be adopted and traded at $ 3.4 million. That’s a 17.125% increase from today’s price.
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