Expert Analysis: Bitcoin Correction Not Over, When Will BTC Reverse?
Prominent crypto analyst Ash Crypto, who accurately predicted the recent $10,000 Bitcoin dip, is now warning that the correction in the cryptocurrency market is not over yet. In a recent tweet, Ash Crypto expressed his belief that the current run, driven by the Bitcoin halving event, has peaked for now.
According to Ash Crypto, he expects Bitcoin to undergo a significant correction, with prices potentially dropping to the $50,000-$58,000 range. Despite this short-term bearish outlook, he remains optimistic about Bitcoin’s long-term prospects, predicting that the cryptocurrency will resume its upward momentum towards the end of 2024 and eventually surpass the $100,000-$150,000 mark by early 2025.
“We pumped from $15,000 to $73,000 without any major big correction, and in my opinion, a pullback is due,” Ash Crypto stated in his tweet. While acknowledging the potential impact of a Bitcoin ETF approval on historical cycles, he remains cautious and suggests that a correction is likely.
The recent dip in Bitcoin’s price, dropping from around $64,000 to $61,000, has raised concerns among investors. Despite facing criticism for his bearish stance, Ash Crypto remains committed to sharing his insights and positions with the community.
While Ash Crypto anticipates a short-term correction, he is holding various altcoins in anticipation of a potential “altseason,” where alternative coins could see significant gains. His track record of accurately predicting market movements adds credibility to his analysis, although the volatile nature of the crypto market means that predictions should be taken with caution.
As investors navigate the crypto market’s ups and downs, opportunities for significant returns continue to emerge. Whether it’s through strategic investments in established cryptocurrencies or emerging projects like NuggetRush ($NUGX), staying informed and conducting thorough research remains key to success in the ever-evolving world of digital assets.
