Several Bitcoin analysts are forecasting a significant short-term price drop to $50,000 before Bitcoin embarks on a parabolic run. Markus Thielen from 10x Research highlighted the formation of a "double-top price pattern," which could lead to a steeper decline. Despite current range trading between $60,000 and $70,000, Thielen suggests a potential fall to $50,000, or even $45,000, if the pattern holds.
Crypto trader Jelle noted that Bitcoin's price action post-halving mirrors previous cycles, with current price fluctuations seen as part of a "shakeout effect." Rekt Capital, another prominent trader, sees the recent dip below $60,000 as a buying opportunity before the next bullish phase.
Despite short-term bearish trends, the long-term outlook remains optimistic, with analysts predicting a substantial upward movement in the near future.
Disclaimer: Please note that the information provided in this article is based on the referenced research articles. It is essential to conduct further research and analysis before making any investment decisions. The cryptocurrency market is highly volatile, and investors should exercise caution and consult with financial professionals before engaging in cryptocurrency trading or investment activities.