A well-known crypto analyst, known as Bluntz, is warning that Bitcoin (BTC) could be in for a rough ride. He’s predicting that BTC could fall below $53,000, which would be a new five-month low.
Bitcoin’s Recent Dip
Bluntz says that Bitcoin’s recent pullback from near $60,000 is a bad sign. He’s using the Elliott Wave theory to predict that BTC will continue to drop. This theory suggests that price movements happen in predictable patterns.
Ethereum Also Facing Trouble
Bluntz isn’t just bearish on Bitcoin. He’s also predicting that Ethereum (ETH) could drop below $2,800. This would be a big move for ETH, as it’s held that support level for over five months.
Spot Ethereum ETFs
Bluntz isn’t convinced that the potential approval of spot Ethereum ETFs in the US will be a big boost for ETH. He thinks that ETH could actually drop first before seeing a big jump.
Remember: This is just one analyst’s opinion. Don’t take this as investment advice. Always do your own research before making any investment decisions.
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