Bitcoin And Altcoins On The Brink Of Another Huge Correction, Here’s When – Coinpedia – Fintech & Cryptocurreny News Media

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The price of bitcoin rose past $40,000, but there was no further upward movement. It is currently trading below $39,000, reversing recent gains. BTC lost 3% in one day and more than 3% in the past week.

Likewise, most prominent cryptocurrencies are cutting their profits. After failing to break through the $3,000 resistance, ETH fell sharply.

XRP is down more than 5% and it is approaching the USD 0.60 support level. The key USD 0.805 support zone has been tested by ADA.

Here is the next downside to BTC price?

Peter Brandt, a trader and analyst, has forecast a decline in Bitcoin, Ethereum and most other altcoins, which corresponds to the 2018 crash. Analysts have set a downward target of $27,000 after noticing a bearish structure similar to that seen in 2018. 2018.

Bitcoin, along with other popular cryptocurrencies such as Ethereum, Cardano, XRP, Solana, Dogecoin, and BNB, has undergone a price correction.

According to famed investor and trader Peter Brandt, this could be more than a market correction.

Brandt rose to fame after correctly predicting Bitcoin’s massive crash in 2018. BTC’s main shift was an 80% drop in price, according to the analyst.

The trader analyzed Bitcoin’s price structure in a recent tweet, pointing to “structural similarities” between its current trajectory and the eve of the 80% crash in 2018. The BTC chart is once again “deja vu,” according to Brandt.

The Bitcoin price chart has a death cross, according to cryptocurrency specialists at Stck.pro. Analysts say Bitcoin’s price is about to fall by nearly half, with a price target of $25,000.

Lark Davis, a well-known YouTuber and crypto expert, recently examined the impact of a death cross on the price of Bitcoin.

The last two times, a death cross has appeared on the three-day Bitcoin price chart, the price has fallen by 50%. Davis believes Bitcoin is on the brink of a death cross and predicts a similar end.

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