Sharing that the range in which Bitcoin has consolidated in the last seven days, or the difference between the highest and the lowest, is 3.4%, Glassnode pointed out that this ratio is one of the narrowest intervals of the last three years.
Pointing out that this may mean high volatility for BTC in the coming days, Glassnode said that there may be sharp downward or upward movements in BTC.
While Glassnode warned of high volatility for BTC, successful analyst of the crypto market Peter Brandt announced that he expects a drop for BTC.
Making a post on Twitter today, Brandt said that he predicts BTC could drop below the $26,800 level.
According to the analysis of the successful analyst, Bitcoin risks falling below $25,000.
Although Peter Brandt expects a decline in Bitcoin in the short term, he expects a rise in the long term. Because Brandt advised investors to act long-term in Bitcoin, saying that he expected $ 40,000.
“Maybe we can give Bitcoin another bearish break and then it's time to go higher.
But this is just a guess and guessing is the best we can offer investors.
If anyone thinks otherwise and believes there is no downside risk to the BTC price at the moment, protect your wallet. Turn your back on these guesses and move forward as you know how."
*Not investment advice