Bitcoin
BTC$42 098.18

-3.78%

Ethereum
ETH$2 929.10

-5.31%

Tether
USDT$1.000360

0.04%

Cardano
ADA$2.13

-4.16%

Binance Coin
BNB$340.05

-2.66%

XRP
XRP$0.938176

-2.60%

Bitcoin Prediction: BTC is about to drop


#Bitcoin

Bitcoin Prediction: BTC is about to drop, but only after a strong surge


In the last several days, Bitcoin has seen a rally that included most of the crypto market. However, the surge has passed, and the price is not back to the 38.2% Fib retracement level. While this was also expected from the coin known for large volatility, it is anticipated that an even bigger drop is about to follow.

However, before this drop arrives, analysts seem to believe that BTC will spike towards $4,200, potentially even breaching this level. After that, the predicted major drop is expected to follow, and likely knock Bitcoin's price back down towards $3,000 in the following weeks. The drop is expected not to occur without the surge, meaning that it might not even happen if something disrupts the market's natural flow.

Further short-term rallies still remain a possibility in the near future, while the end of the week will show what path will Bitcoin take from now on. Analysts predict that the correction following the large surge will arrive almost immediately afterward, possibly even at the beginning of the following week.

Bitcoin is currently in a serious lack of cash flow, one which would allow it to start growing permanently once more. It is believed that most investors will not turn bullish unless BTC reaches a certain price, and that price is believed to be $6,000. Turning the investors bearish seems to be a much easier thing to do, as all it takes is for BTC to break several supports and spiral back down closer to $3,000.

Meanwhile, there are also many who believe that Bitcoin may have bottomed. However, this is unlikely, and with each passing day, it becomes more and more apparent that the further drop is a much greater possibility than another growth. Even if the predicted surge does arrive, it will be followed by a nosedive.

Even so, analysts also do not believe that it is time for shorting either, as the predicted drop will be the result of BTC running into a strong resistance. If another rally follows the drop, it is more than possible that BTC might once again reach, or even breach the $4,000 mark. Meanwhile, there are theoretical strategies that may result in BTC being brought up to $6,000 mark, although it is unlikely that such a large growth can be predicted or manipulated within any short time period.

Summary


For now, it appears that a highly volatile period may be in store for Bitcoin in the near future, one which will start with a large surge that will allow BTC to break a resistance that was blocking its way since mid-February. However, if the surge does arrive, it will almost certainly be immediately followed by a massive drop, one which will likely hit the entire market, considering how closely other coins follow Bitcoin's lead.

But, as this drop will only be a correction caused by the rejection, BTC is expected to once again come back up and potentially settle near or above the $4,000 mark.


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Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap Volume 24h
1 Bitcoin (BTC) BTC Bitcoin predictions 75.6% 41 $42 098.18 -3.78% -2.79% $792 647 747 198 $31 255 848 261
2 Ethereum (ETH) ETH Ethereum predictions 69.2% 55 $2 929.10 -5.31% -4.28% $344 776 996 910 $17 375 599 531
3 Tether (USDT) USDT Tether predictions 96% 1 $1.000360 0.04% 0.03% $68 567 748 968 $68 145 566 729
4 Cardano (ADA) ADA Cardano predictions 64.8% 70 $2.13 -4.16% -1.60% $68 342 556 564 $2 772 300 629
5 Binance Coin (BNB) BNB Binance Coin predictions 72.8% 59 $340.05 -2.66% -8.68% $57 174 896 989 $1 453 895 839
6 XRP (XRP) XRP XRP predictions 71.6% 50 $0.938176 -2.60% -1.10% $43 829 348 412 $2 741 251 966
7 Solana (SOL) SOL Solana predictions 64.8% 68 $135.72 -7.90% -4.56% $40 364 707 779 $2 586 556 062
8 USD Coin (USDC) USDC USD Coin predictions 90.8% 1 $1.000370 0.06% 0.02% $31 272 251 602 $3 236 353 928
9 Polkadot (DOT) DOT Polkadot predictions 68.4% 68 $27.94 -4.36% -5.91% $27 596 817 584 $1 527 139 483
10 Dogecoin (DOGE) DOGE Dogecoin predictions 68.8% 63 $0.201790 -2.23% -4.92% $26 530 096 140 $844 248 344
11 UniSwap (UNI) UNI UniSwap predictions 68% 68 $24.72 1.41% 15.89% $15 118 981 827 $1 169 207 809
12 Avalanche (AVAX) AVAX Avalanche predictions 58.4% 84 $66.71 -5.55% 4.62% $14 695 292 582 $1 112 779 061
13 Terra (LUNA) LUNA Terra predictions 68% 61 $35.63 -3.96% 23.38% $14 249 462 275 $1 572 224 921
14 Binance USD (BUSD) BUSD Binance USD predictions 93.2% 1 $1.000220 0.05% 0.01% $13 529 060 969 $4 713 979 833
15 Chainlink (LINK) LINK Chainlink predictions 65.6% 70 $23.69 -2.65% -1.52% $10 779 957 156 $1 061 112 948

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