Now the situation is uncertain and several scenarios of bitcoin’s movement can be considered, says Roman Nekrasov, co-founder of the ENCRY Foundation. One of them is positive, according to him, the bearish cycle is ending and a new bullish growth will begin soon. This forecast is based on data on bitcoin sales by miners: they actively sold coins in April-June 2022, but now the trend has changed and it is worth waiting for a period of accumulation and growth of bitcoin up to $ 30 thousand, the specialist said.
According to technical analysis indicators.
Bitcoin has not yet reached the bottom, and even the level of $17.7 thousand, to which it fell in mid-June, cannot be considered as such. The bottom in this scenario is around $ 15 thousand, the expert explained. At the same time, he drew attention to the fact that technical analysis does not take into account the high volatility of cryptocurrencies and their exposure to quotes to “emotional outbursts and manipulative practices.”
According to the most negative forecast, in the next month it is worth waiting for bitcoin to fall to $ 15 thousand, and possibly up to $ 10 thousand, after which a period of growth will begin, Nekrasov said. Thus, all forecasts generally agree that bitcoin will grow, but some believe that growth has already begun, while others believe that bitcoin will fall in price before it starts to get more expensive again, the expert concluded.
