- Analysts expect a major bullish reversal for crypto in mid-September.
- The JASMY community keep a close eye on JASMY price, expecting a parabolic pump.
- The arrival of altseason could further bolster the price of altcoins like JASMY.
Top crypto analysts debate what’s next for the crypto market as Bitcoin (BTC) price hovers between the $56,000 price range. Amidst differing viewpoints one thought is certain, many believe Bitcoin (BTC) price will fall once again to drastic dips before springing forth and setting new ATHs in the coming months.
BTC Price Drop to $40,000?
In detail, the most dramatic expectation is from one analyst who expects Bitcoin (BTC) price to fall between $38,000 – $44,000. While this analyst does not expect to rise again and set a new ATH, others differ on this point alone. Some believe the dip will take Bitcoin (BTC) price between $40,000 – $44,000 at the lowest before surging back up again.
As we can see from the post above, this analyst believes that as long as the price of Bitcoin (BTC) remains below the $60,000 price mark then it is only a matter of time until BTC price capitulates to $40,000. Lastly, the analyst adds that this expectation could likely play out in the next 10 days.
New ATHs for Bitcoin Still in Play
In answer to why this significant dip will occur for Bitcoin (BTC) and other cryptos, one popular crypto analyst explains. Known for his silver-tongued predictions and detailed analysis, Doctor Profit calls this dip a healthy correction for the crypto market.
We had 7 bullish monthly candles in a row from 24k to 74k, now we have neutral sideway price action in 6 monthly candles in a row. We are in a healthy correction!
The overbought is now healthy, the greed turns to fear, the funding rate is neutral for first time since 2023.
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— Doctor Profit 🇨🇭 (@DrProfitCrypto) September 3, 2024
He goes on to share his observations of how we had 7 bullish candles in a row when Bitcoin (BTC) price moved from $24,000 to $74,000. He then compares it to how now there is a neutral sideways price action in 6 monthly candles in a row. According to him, this overbought phase is stabilizing and turning greed to fear for the first time since 2023.
Doctor Profit has also warned traders of the coming dip and urges holders to either buy the dip or continue to hold and not give in to panic-selling. He staunchly believes that the crypto market has been in manipulation mode for two weeks and expects this manipulation to continue until both bears and bulls are exhausted.
Calling this a bear trap, the analyst expects Bitcoin (BTC) to eventually come back to the $54,100 to $54,350 price mark if the market allows. He ends his message with a call to remain strong and place strategic trading orders to leverage opportune market moments.
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