The price of Bitcoin
$0.00003
has experienced a drop after surpassing $86,400, with the EU expressing despair over tariffs. Nevertheless, the price remains around $85,000. Meanwhile, some cryptoanalysts caution those who anticipate a continued decline. What predictions are made for cryptocurrencies?
Bear Markets in Cryptocurrency
Weeks ago, Ki Young Ju, CEO of CryptoQuant, suggested that bear markets had begun. This perspective allowed short sellers, particularly in altcoins, to profit by following his advice. However, not everyone shares this belief. Strong recoveries, similar to those witnessed in mid-2021, often follow such discouraging downturns.
As Mister Crypto prepared this article, he highlighted the unrealized losses in circulating Bitcoin supply, warning those expecting a continued decline.
“Only 24% of the circulating Bitcoin supply is in unrealized loss. This level typically indicates not the start of a bear market, but rather a regular dip in a bull market. The bull market isn’t over!”
Cryptocurrency Prices Will Rise
Despite fears and panic among investors due to tariff issues and other negative developments, cryptocurrencies are expected to rise. If historical data remains relevant, this is what we should witness. While prices climb, many will forget the tough days and months experienced during recent downturns.
Moustache shared the following graph, asserting our direction is upward.
“Bitcoin vs. SPX. A friendly reminder; we are seeing a 3D bull crossover (MACD) in the BTC/SPX chart. Historically, this has indicated a bullish signal for the entire crypto market in 4 out of the last 5 occurrences over the past two years, marking the strongest rallies. Are you prepared?”
Monitoring moving averages closely, Jelle has also warned that changes are beginning after months of declining movements.
“Bitcoin has crossed above the 200ema for the third time since the downtrend began. A significant difference: the EMA is no longer sloping down.”
BTChovers around $85,000, while appetite for altcoins has yet to return.
