Lagen has described this massive sell-off as the "shake out of the century,” when the Bitcoin price could plummet dramatically to 98% of its high. This suggests that after hitting $250,000, the BTC price could crash to $2,000, trading below Ethereum’s current price, which is trading at $2,635, according to CoinMarketCap. Highlighting the reasoning behind this unexpected bearish price crash, Lagen revealed that by plotting the Bitcoin price on the "Syslog scale,” it clearly shows a High-Time Frame (HTF) rising wedge, which points at a price target between $1,000 and $10,000.
However, they caution that once profits are taken at this top, Bitcoin could decline significantly to new lows. Bitcoin Price Projected To Crash 98% On October 30, crypto analyst Gert van Lagen told his 106,700 followers on X (formerly Twitter) that the Bitcoin price could drop to the $24,000 range once it hits $250,000.
Analyst Predicts 77% Price Crash To $40 The crypto analyst has set a new target of $71,200 for Bitcoin, suggesting that if the cryptocurrency follows through with the triangle bearish continuation pattern, its price could decline significantly.
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