Bitcoin

Bitcoin Price Forecast : Analyst Predicts Steep Correction, BTC Price Might Hit New ATH in May 2022

Written by: Sara K

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Sara K

Sara is steadily working on cryptocurrency evaluations, news, and fluctuations in digital currency prices. She is guest author associated with many cryptocurrencies admin and contributes as an active guide to readers about recent updates on virtual currencies.

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Dec 31, 2021

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Bitcoin’s downward price trend continues, with a plunge to a ten-day low of $46,000 just a few hours ago. The bitcoin market value has dropped by $250 billion in three days, putting most altcoins on a similar path. 

After hitting a one month high of $52K on December 27th, Bitcoin began to drastically depreciate in value. It sank to $49,000 in hours on Tuesday, as stated, before dropping to $48,000 yesterday.

The problem has only gotten worse in the last 24 hours, as BTC has plummeted to $46,000, its lowest price in ten days. Bitcoin is currently trading approximately $1,000 higher, although it is still down nearly 2% on the day and has a market capitalization of less than $900 billion.

BTC Price Set to Collapse Further?

There’s an argument to be made for another significant collapse, according to a widely followed crypto analyst who predicted Bitcoin’s big correction in May of 2021.Dave the Wave,provides his followers with a list of warning signs that Bitcoin is on its way to a drop as low as $25,000.

A decrease to $25,000, according to Dave the Wave, would align with five separate technological measures. 

If a head and shoulders pattern, which is a price structure used to predict a trend reversal, plays out, the analyst believes a drop to $25,000 may be a viable target. 

Finally, the analyst considers a scenario in which Bitcoin sinks to roughly $28,000 before rising above the six-figure level as early as May 2022. 

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Sara K

Sara is steadily working on cryptocurrency evaluations, news, and fluctuations in digital currency prices. She is guest author associated with many cryptocurrencies admin and contributes as an active guide to readers about recent updates on virtual currencies.

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