This Analyst Called The Bitcoin Price Crash Early, Total Prediction Says More Pain Is Coming

Crypto analyst Akademik, who predicted the Bitcoin price crash early, has now revealed his total predictions for the flagship crypto’s trajectory in the short and mid-term. According to his predictions, BTC could experience a further crash, potentially dropping to as low as $80,000.

What’s Next For The Bitcoin Price?

In a TradingView post, Akademik suggested that Bitcoin’s price could drop to as low as $80,000 or even $60,000. He outlined his short trading strategy for BTC in the future, indicating a possible downtrend for the cryptocurrency.

While advising traders to keep shorting BTC, Akademik mentioned the possibility of entering at the trend level highlighted on the charts if there is activity in the feed or volumes are substituted.

Currently, the Bitcoin price has a bearish outlook, dropping to the $93,000 range before bouncing back above the $95,000 support level. Crypto analyst Ali Martinez highlighted a supply wall of 1.88 million BTC at $97,000, indicating a greater supply than demand for BTC.

Despite the short-term bearish outlook, the long-term trend for Bitcoin remains bullish according to crypto analyst Titan of Crypto. As long as BTC remains within a consolidation range, there is no clear short-term direction for the cryptocurrency.

At the moment, Bitcoin is trading at around $95,300, down in the last 24 hours, according to data from CoinMarketCap.

It’s important to note that the market is currently in the ‘depression’ stage of the market cycle, suggesting that Bitcoin is likely to see one last pump before this cycle ends.

Featured image from Unsplash, chart from Tradingview.com