Two Bitcoin Masters Said ‘It Will Fall’! Famous Businessman Announced the Price He Will Buy!

İki Bitcoin Ustası ‘Düşecek’ Dedi! Ünlü İş Adamı Alacağı Fiyatı Açıkladı!
İki Bitcoin Ustası ‘Düşecek’ Dedi! Ünlü İş Adamı Alacağı Fiyatı Açıkladı!
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A crypto analyst familiar with the pre-halving pullback for Bitcoin warns that BTC could fall to much lower levels. Popular analyst Michaël van de Poppe also predicts that Bitcoin could fall before rising again. Meanwhile, famous US businessman David Portnoy, founder of Barstool Sports, plans to buy $10 million worth of Bitcoin if the price goes to these levels.

Analyst: Bitcoin at risk of further correction!

As you have been following on Kriptokoin.com, the leading crypto Bitcoin has managed to rise above $60,000, but is struggling to advance further. This brings to mind the question “Is a further decline in the cards?”. Rekt Capital, a seasoned analyst, says Bitcoin could fall more than 8% from its current value. In this context, the analyst said, “If we were to see either the deepest correction in the cycle or at least a correction equal to the deepest correction of 23.8% in the cycle. This would take us to $ 55,000.”

Source: Rekt Capital/YouTube

Analysts believe that in a cycle where Bitcoin is in a bearish trend, a deeper decline is unlikely. Rekt Capital says a local bottom or a shallower pullback is more likely. In a previous bearish cycle, in late April and early May, there was a deep correction, which exceeded the deepest correction in the current bearish cycle. According to analysts, a deeper decline from this level is highly unlikely. However, a milder pullback or the current level is already considered to be the bottom.

Michaël van de Poppe expects a fall before a rise

Popular analyst Michaël van de Poppe discusses the leading cryptocurrency Bitcoin (BTC) following recent developments. Van de Poppe warns that BTC could fall before rising again. Accordingly, the analyst said, “This will probably be the case for Bitcoin. Preferably, we scan the $60,000 area where the bullish divergence started. With the Ethereum ETF list approaching, there could be a reversal starting next week.”

Bitcoin
Source: Michaël van de Poppe

David Portnoy shares new Bitcoin strategy

Famous US businessman David Portnoy, founder of Barstool Sports, hinted at his Bitcoin strategy in a video posted on his X account. In this context, Portnoy revealed the price level at which he would be ready to buy more BTC. As a long-term investor, Portnoy sees no reason to buy at the $60,000-61,000 price level. If the price drops below $50,000, Portnoy plans to buy $5-10 million worth of BTC.

According to data provided by CryptoQuant, ultra-long-term holders are currently selling Bitcoin. In anticipation of a stronger bull market, they see no reason to stay in the asset as the BTC price falls.

Bitcoin
Source: CryptoQuant

According to IntoTheBlock, long-term Bitcoin (BTC) holders sold nearly $10 billion worth of BTC in May 2024. But that pace slowed in June, with more than 40,000 BTC sold by holders. Over the past week, Bitcoin has faced some major challenges. Just two days before the end of the first quarter, the cryptocurrency failed to break the resistance level and fell below $60,000.

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Two Bitcoin Masters Said ‘It Will Fall’! Famous Businessman Announced the Price He Will Buy!