Bitcoin has been on a wild ride lately, soaring close to $70,000. But some experts are worried about a potential crash, especially with the US Presidential election looming.
A Recent Surge, But Will It Last?
Bitcoin has seen a massive jump in the past couple of weeks, gaining over 12% from its starting price. It even briefly touched the $70,000 mark, a level not seen since July. However, this surge was followed by a quick dip, with Bitcoin dropping back down to the $65,000 – $66,000 range.
Experts Predict Another Dip
Several analysts believe that Bitcoin is due for another correction, potentially happening around the US Presidential election in November.
- Altcoin Sherpa predicts a pullback to the $62,000 – $64,000 range, but ultimately expects Bitcoin to continue its upward climb.
- Crypto King also sees a correction coming, with Bitcoin dropping to the $64,000 – $65,000 range after hitting $70,000.
Others Remain Bullish
While some analysts are predicting a dip, others are still optimistic about Bitcoin’s future.
- Moustache believes that if Bitcoin holds its support above $67,000 – $68,000, it will soon reach $70,000.
- Crypto Yapper sees Bitcoin breaking out of a bull flag pattern, indicating a potential surge.
- Rekt Capital points to Bitcoin’s old downtrend line as a sign of support, suggesting a bullish weekly close above $66,300.
The Verdict?
The future of Bitcoin remains uncertain. While some experts predict a correction, others are bullish on its potential. Only time will tell if Bitcoin will continue its upward climb or experience another shakeout.
