Bitcoin’s Price Could Drop, But It’s Actually a Good Thing
Two big names in the crypto world, Jan Happel and Yann Allemann, the founders of Glassnode, think a Bitcoin crash to $37,000 wouldn’t be a bad thing at all. They’re actually excited about it!
Why They’re Excited About a Price Drop
Happel and Allemann see a dip in Bitcoin’s price as a great opportunity to buy more Bitcoin at a lower price. They’re confident that Bitcoin will eventually reach a new all-time high, and they’re ready to buy the dip to get in on the action.
Predictions for Bitcoin’s Future
They believe Bitcoin’s next big rally could take it to $70,000, surpassing its current all-time high of $73,000. They think this surge will be fueled by a “strong altcoin undercurrent,” meaning other cryptocurrencies will also be rising in value.
Other Analysts See a Dip Coming
While Happel and Allemann are bullish, other analysts are predicting a price drop. Zoran Kole, a crypto analyst, sees a “Head-and-Shoulders” pattern on Bitcoin’s chart, which suggests a potential drop to as low as $36,000.
Breaking the Bearish Trend
To avoid this potential drop, Bitcoin needs to break above $65,000. This would confirm a bullish reversal and could lead to a parabolic rally.
A Bullish Outlook
Another analyst, Rekt Capital, is more optimistic about Bitcoin’s future. He believes that Bitcoin is close to reclaiming its “reaccumulation range” and is on track for a parabolic uptrend. He’s also looking for Bitcoin to close the month above $58,800, which would confirm its support at that level.
Bitcoin’s Current Price
At the time of writing, Bitcoin is trading at around $58,400, down slightly in the last 24 hours.
