Experts Predict When Bitcoin (BTC) Rally May End This Year
In a market cycle full of uncertainty, the right timing of investment decisions becomes crucial for investors. The current cycle makes it even more difficult to measure the situation with companies that are losing money. Although Bitcoin (BTC) maintained an upward movement for the past month, the past few days have seen a slight price correction. In its current range, the cryptocurrency is down nearly 70% from its all-time high.
Will the Bitcoin Rally End in the Next Months?
By any measure, the current cycle is certainly unlike previous bear cycles. So far, the current bear market was a bit “mild” compared to the 2014 and 2018 cycles, according to Crypto Quant observation. Since last November, the market saw a continuous downward trend along the Bitcoin price decline. Negative macroeconomic sentiments have also affected the market outlook this year.
“In terms of both the duration and magnitude of the decline, the current bear market has been somewhat ‘mild’ compared to both the 2014 and 2018 bear markets.”
It is expected that Bitcoin may find itself in the area below $15,000 in the next few months. This is based on price behavior in the previous bear market cycles. While things are bound to change in terms of price movement, a look at past cycles provides a broader perspective. “If the current movement repeats, we will find the region of maximum pressure at the end of the year, starting in October. Within a trading range between $10,000 – $14,500.”
What is in store for the end of 2022?
Therefore, into 2023, the market could be looking at a potential crypto rally for an extended period. If Bitcoin starts to fall in the next few months, it might as well drag out until the end of the year. It remains to be seen whether there will be an end to the Bitcoin short rally in the short term. At the time of writing, Bitcoin is at $23,342.38, down 0.40% in the last 24 hours, according to CoinMarketCap. Over the past week, the cryptocurrency has fallen by 4.06%.
Meanwhile, it is expected that the BTC price may witness a short-term target of falling to $21,000-$20,000. If there is short-term selling pressure, the price will likely fall to this area.
The content presented may include the author’s personal opinion and is subject to market conditions. Do market research before investing in cryptocurrencies. The author or publication has no responsibility for your personal financial loss.
