The best Bitcoin (BTC) price predictions in the afternoon

TL;DR

Analysts are predicting a major bull run for bitcoin, potentially fueled by the emergence of a “Golden Cross”. Some experts predict short-term corrections and advise investors to be cautious. Bullish forecasts

The major cryptocurrency went through enhanced volatility last week, with the price hovering between $64,000 and $68,000. It is currently trading around $67,300, and many analysts expect a bull run in the coming months.

One example is Crypto user X Titan, who speculated that a BTC “Golden Cross” could be on the horizon. The phenomenon occurs when the 50-day moving average (MA) crosses above the 200-day MA. Historically, these events have been the precursor to a major rally for the leading digital asset.

According to Titan of Crypto, this time, the “Golden Cross” could be formed by the crossing of the MA100 with the MA200 and could be observed at the end of 2024. The analyst said that this has never happened before, imagining “the most impulsive”. bull run” as a result.

For his part, user X Jelle argued that bitcoin could repeat its performance from a few months ago. The trader recalled that the consolidated price between December 2023 and February 2024, dropped substantially for a short period of time and subsequently entered a bull run.

A similar consolidation and brief correction was recorded recently, which means that BTC could be on its way to a new all-time high in the coming months, Jelle’s chart shows.

Another X user thinks BTC’s “perfect scenario” is loading. They predicted “one last dump” to $50,000 in September before an exponential climb to $100,000 before the end of the year.

The bones

On the other hand, some industry participants believe that BTC could be headed south in the near term. Popular analyst Ali Martinez argued that the TD Sequential indicator is showing a sell signal on the hourly chart, which means a short correction could be on the cards.

The analysis tool, developed by Tom DeMark, is used to identify potential reversal moments by signaling periods of trend exhaustion. It consists of nine consecutive candles, each of which must close more than the four candles closed before. Today (July 26), BTC briefly dipped below $67,000, indicating a bearish move (according to Martinez).

Speaking of bitcoin bears, Peter Schiff must be mentioned. The American stockbroker and financial commentator is known for his tough stance on cryptocurrency, often criticizing it and advising investors to exit the ecosystem.

More recently, he predicted that many of the people who have BTC will have their pain threshold tested. “In fact, I think those who decide they can’t take the pain any longer will end up better off than those who grin and bear it,” he added.

It’s worth mentioning that Schiff’s anti-BTC predictions have often been quite inaccurate. By the end of 2023, he assumed the asset was headed for a “black swan” collapse. The price of BTC was around $42,000 when it participated, while several months later, it soared to an all-time high of over $73,500.

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