Bitcoin experienced major selling pressure after the approval of spot ETFs and dropped sharply to $41,000.
While BTC continues to consolidate after this decline, analysts are divided on the BTC price.
While some analysts think that this correction in Bitcoin is healthy and that there will be an increase from now on, some analysts think that the correction in BTC will continue.
At this point, popular analyst Tone Vays also thinks that the correction is not over.
The analyst, who recently shared his BTC analysis in his YouTube video, warned investors that a much larger correction may occur soon.
“Everything Points to a Major Correction in Bitcoin!”
He claimed that if Bitcoin does not make a daily close above $44,000 in the coming days, there may be a drop to $36,000.
“All signs point to a much bigger correction in Bitcoin. I hope that doesn't happen.
But I will stay on the sidelines with cash until Bitcoin breaks above the moving averages at $44,000, where I need Bitcoin to get back to $44,000.
If Bitcoin fails to make a daily close above $44,000, there could be a correction towards $36,000.
These levels may change depending on how fast or how slow the decline occurs.
At this point, $39,000 could also be a good buying opportunity.”
Stating that the decreases in Bitcoin below $40,000 or that will occur in the short term are not decreases during the halving period, the analyst said, “Pre-halving decreases usually occur a few weeks before the halving. They do not occur four months before.” said.
“Bitcoin will drop to $30,000 at most, not $20,000!”
Finally, although the analyst expects a big drop in Bitcoin, he stated that this drop could go up to $ 30,000 at most.
At this point, the analyst said, “I don't think Bitcoin will go to $20,000. $30,000 is my lowest level. I don't think we will go to $30,000 either. A truly disastrous outcome needs to happen for $30,000.” said.
Bitcoin continues to trade at $42,810 at the time of writing.
*This is not investment advice.
