Источник Bitcoinist.com
Заголовок Bitcoin’s Price At Risk Of Falling To $50,000, Crypto Analyst Warns
Дата 20240629

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Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin s Price At Risk Of Falling To $50,000, Crypto Analyst Warns

Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin s Price At Risk Of Falling To $50,000, Crypto Analyst Warns

by Godspower Owie

2 hours ago

in Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin News

0

In a scathing assessment of Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin, the largest digital asset by market
capitalization, popular crypto analyst and trader Mags has warned BTC
investors, highlighting that the crypto asset may drop as low as $50,000 in
the short term.

Will Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin Drop To $50,000 Soon?

Mags has identified a crucial element that Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin must manage to avert a drop
below the $50,000 price level. This warning comes amidst a wave of pessimism
and increased uncertainty in the cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта market, which has experienced
sharp swings and an overall negative view in recent weeks.

Related Reading: Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin Recovery In Sight? Analyst Foresees BTC Revisiting
$72,000 Soon

The analyst bases his forecast on the long-term trend of Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin around the
range low, which may result in a rise or a fall in value. According to Mags,
the digital asset is testing the range low for the fifth time since March.

He further noted that the price has been moving in a narrow range over the
past few months, and a significant breakout could be on the horizon. However,
the price is now in a crucial support zone that has to be held back to prevent
a further downtrend , possibly to the $50,000 mark. BTC testing the range low
for the fifth time since March | Source: Mags on X

Although Mags pointed out that the crypto asset has already seen a fakeout
below $60,000, a swift recovery, and a solid run-up to the range high, if the
price falls below the range low once more, the development will be regarded as
a genuine breakout instead of a fakeout.

The post read:

We have already witnessed a fakeout below $60,000 followed by a quick reclaim
and a nice run-up till the range high. If the price breaks down below the
range low again, we will consider it an actual breakout rather than a fakeout.

Thus far, the crypto expert has highlighted the absence of a significant
support zone before the $50,000 and $52,000 price marks, noting that the price
is keeping the range low nicely, and the general outlook for
Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin is still optimistic.

In light of the recent heightened volatility and pessimistic sentiment in the
market, Mags analysis highlights the significance of BTC remaining
above critical support levels and improving market conditions to maintain its
value.

Dips Are Good Time To Purchase BTC

Over the past 3 months, BTC has been in a consolidation phase, triggering fear
and uncertainty among investors, with most of them selling to minimize losses
whenever the asset declines.

Related Reading: Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin To Soar By 40%: Analyst Predicts Strong Bullish Wave,
Here’s How

Offering insights on the subject, Mags has advised investors not to waver as a
consolidation or dip after the Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin Halving is very common, as demonstrated
by every cycle. According to Mags, these market declines have historically
favored acquiring BTC.

Mags revealed that many investors mistake this period for distribution or a
cycle top. As a result, they sell early or sit out the best part of the rally,
which he believes usually begins a few months after the Halving. Furthermore,
the analyst has highlighted that these investors could miss out on a 250% gain
in this cycle should BTC hit $200,000 . BTC trading at $61,720 on the 1D chart
| Source: BTCUSDT on Tradingview.com

Featured image from iStock, chart from Tradingview.com

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