Bitcoin Forecast: BTC Price Could Crack $50,000 If This Important Level Does Not Hold

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Bitcoin Forecast: BTC Price Could Crack $50,000 If This Important Level Does Not Hold - NewsBTC

Quick Summary:

This bullish sentiment is shared by a crypto analyst, identified as Titan of Crypto,’ who predicts that October may be the month that Bitcoin finally breaks out of its bearish cycle. Sharing a price chart tracking Bitcoin’s previous bear cycles and bull runs, the analyst predicts that the cryptocurrency could breakout to $100,000 soon, marking the possible start of a bull run. Featured image created with Dall.

A crypto analyst has predicted that Bitcoin could witness an even steeper drop to $50,000 if its price does not hold this key support level. Bitcoin Risks $50,000 Drop If Support Fails Elja Boom, a crypto analyst took to X (formerly Twitter) on September 5 to discuss the current price trends and market movements of Bitcoin.

Boom shared a price chart offering key insights into Bitcoin’s future outlook, indicating that the cryptocurrency’s short term uptrend has likely ended. Related Reading: Crypto Analyst Says The Bitcoin Summer Chop’ Is Nearing Its End, Here’s Why The analyst expects Bitcoin’s price to stay within the range of $54,000 and $54,500.