Bearish forecasts are appearing one after another on Crypto Twitter as analysts seem to be expecting the bears to start dominating the market again.
Is BTC heading towards $6,200?
As reported by U.Today earlier, the @nebraskangooner entrepreneur and trader expects the Bitcoin price to drop to $6,200 soon. He bases his negative forecast on the fractal analysis.
The price may first rise to see $7,500, he says, ‘and then…’. His expectation is $6,200.
A hope for bulls remains
The analyst @CryptoMichNL says that at the moment on the charts Bitcoin has got out of the wedge pattern. The analyst still hopes that the price will break upwards at the $7,400 level. However, he admits that a bearish reversal towards $6,900 is also an option.
Earlier, the same analyst’s expectations were more bullish. He tweeted:
‘I don't think we're going that much further down.’
Taking into account the approaching Bitcoin halvening in May 2020, he said he believed that the market would start surging rather than dropping.
A drop to 6,000 by end of 2019 expected
Another crypto trader seems to be bearish on Bitcoin, at least until the year ends. KailCrypto has posted a chart on TradingView where he shows that the price of the flagship currency is likely to plunge - down to $6,000 by the time 2019 is over.
Bullish expectations ahead of the BTC halving
Overall, market expectations concerning the price of Bitcoin remain bullish, despite the bearish short-term forecasts mentioned above.This is due to the approaching halving in less than half-a-year.
The crypto analyst PlanB on Twitter says that the run-up to the halving is not bearish at all. However, he is surprised not to see any front running on the market yet.
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