Bitcoin Volatility Ahead: Analyst Altcoin Sherpa Warns
Cryptocurrency Expert Anticipates Volatile Bitcoin Movement in Approaching Weeks, Reveals Forecasted Price Points
Get ready for a rollercoaster ride! Bitcoin could see significant volatility due to the current market turmoil caused by US President Donald Trump's tariffs, according to the popular crypto analyst Altcoin Sherpa.
In a recent post on X, Altcoin Sherpa believes that Bitcoin might consolidate within a range of $70,000 to $90,000 in the coming weeks. The lower bound of the range could act as a safety net, while Bitcoin might revisit the upper limit of $90,000 as trading volume picks up.
However, things could take a turn for the worse if Bitcoin fails to hold its ground at $78,000 on the weekly timeframe. This loss of support could lead to a sharp market drop, reminiscent of the market dynamics seen during the May 2021 period.
Despite this warning, it appears that Bitcoin is showing signs of momentum and currently sits around $82,393, marking a 3.5% increase in the past 24 hours.
With Bitcoin's potential to consolidate within the $70,000 to $90,000 range, altcoins may still present promising opportunities for those unafraid of a little volatility.
Remember, experts at The Daily Hodl stress that trading in Bitcoin and other cryptocurrencies involves high risks, and you should always do your due diligence before investing.
Keep an eye on key levels:
- Support: $90,000
- Resistance: $95,000–$100,000
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- In light of Bitcoin's anticipated volatility, altcoins might offer promising opportunities, especially for those who can handle market turbulence.
- The blockchain analyst Altcoin Sherpa predicts that Bitcoin could consolidate within a range of $70,000 to $90,000, with $90,000 serving as potential support and $95,000–$100,000 as resistance.
- The experts at The Daily Hodl warn that trading in cryptocurrencies like Bitcoin, Ethereum, and altcoins involves high risks, and it's crucial to conduct thorough research before investing.
- Analysts at The Daily Hodl cover various aspects of finance such as Bitcoin, Ethereum, trading, altcoins, blockchain, web 3, and more, providing insights that can be found on X, Facebook, and Telegram, and via email alerts.
