- Fear kicks in as BTC falls to lower targets.
- Few analysts remain bullish for an extended cycle.
- Altcoins expected to see new ATH when altseason is triggered.
The crypto market continues its rough start to the month of November. To highlight, the price of Bitcoin continues to fall to lower price targets, and is currently trading in the $104,000 price range, with expectations for BTC to fall even further and hitting 5-digit prices. As dear kicks in as BTC falls to lower targets, a few analysts dare to remain bullish for an extended cycle, and another new BTC ATH target.
Fear Kicks in as BTC Falls to Lower Targets
The crypto market has been experiencing falling prices for Bitcoin, Ethereum, and altcoins. Presently, sentiments are quite low with more analysts and traders turning completely bearish and believe that the bear market has already begun. This expectation comes from the fact that the days of the 4-year bull cycle have been accounted for, meaning that according to this timeline, the bull market has concluded.
This expectation has caused rising FUD amongst the crypto community, especially because one month ago, the sentiment was high and bullish. This quick turn of events has led other analysts to believe that there are yet more bullish moves on the horizon for the crypto market. Thus, one popular analyst and trader goes on to share a detailed post highlighting a number of bullish indicators.
As we can see from the post above, the analyst compares the current state of the market to that of last year’s November. He says that in the first few days of November 2024, Bitcoin price fell from $71,000 to $66,000 and everyone expected the market to be done being bullish, but then BTC pumped 60% from $66,000 to $108,000 in just 45 days. Then, ETH pumped 75%, and the altcoin market cap jumped 138%, sending many altcoins into 5x-10x pumps in less than 2 months.
Few Analysts Remain Bullish for an Extended Cycle
So, he reminds the community that the market can change in under 45 days, and suggests that there could be a parabolic run in the coming days ahead. Presently, the market is in a similar spot, with November starting with price declines. He then highlights a number of bullish indicators to watch out for, starting with Fed will cut rates, QT ending, QE on the horizon, crypto market bill, US-China trade deal signed, Gold topping, and U.S. stocks hitting new ATH.
As we can see from the post above, here’s another trader and analyst who remains bullish. In detail, this analyst remains so bullish that he shares his plan to place long orders in the $100,000 – $103,000 price range when BTC reaches these levels. He also says that there is a 70% probability of a bottom arriving here and a 30% chance to sweep the lows. Which way will the price of BTC move?
