Analyst Says Bitcoin Bottom Is Not In, Will Price Crash Below $50,000 Again?

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Analyst Says Bitcoin Bottom Is Not In, Will Price Crash Below $50,000 Again? - NewsBTC

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Meanwhile, other crypto analysts like Mikybull Cypto have made a case for why the bottom is in and suggested that it is unlikely that Bitcoin will drop below $50,000 again. Bitcoin Bottom Is Likely At The $40,000 Range Altcoin Sherpa mentioned in an X (formerly Twitter) post that Bitcoin is more likely to find its bottom at the $40,000 range rather than at 50,000.

He further predicted that the market would witness "temporary pockets of altcoin moves,” leading to euphoria among market participants. Why The BTC Bottom Is In Mikybull Crypto offered a different view and explained why the Bitcoin bottom is already in, with the flagship crypto unlikely to drop below $50,000.

He added that the Spot Bitcoin ETFs trading volume is on a new level, and whale accumulation for the past thirty days has never slowed, which he claimed shows that institutional investors are bidding rather than distributing. Related Reading: XRP Whales Take Advantage Of 20% Drop To Buy Millions Worth Of Tokens Cryptoquant’s CEO Ki Young Ju recently revealed that 404,448 BTC have been moved to permanent holder addresses over the past 30 days.