Expert Who Called the Bitcoin Dip Says Correction Isn’t Over, Points to When BTC Will Reverse
Prominent crypto analyst Ash Crypto, known for accurately calling the recent $10,000 Bitcoin dip, believes the correction in the world’s largest cryptocurrency is not over yet. In a recent tweet, Ash Crypto expressed his “strong feeling” that the current run, fueled by the Bitcoin halving event, has reached its peak for now.
According to Ash Crypto, whose Twitter handle is @Ashcryptoreal, he expects Bitcoin to experience a significant correction, with prices potentially dropping to the $50,000-$58,000 range. However, he remains bullish on Bitcoin’s long-term prospects, predicting that the cryptocurrency will resume its upward momentum towards the end of 2024 and eventually break through the $100,000-$150,000 mark by early 2025.
“We pumped from $15,000 to $73,000 without any major big correction, and in my opinion, a pullback is due,” Ash Crypto stated in his tweet. He acknowledges that the frenzy surrounding a potential Bitcoin ETF (Exchange-Traded Fund) approval could potentially disrupt historical cycles, but he remains cautious, suggesting that a correction is likely.
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Show more +Ash Crypto’s prediction comes amid a recent dip in Bitcoin’s price, which dropped from around $64,000 to $61,000 yesterday. Despite facing criticism for his bearish stance, the analyst remains committed to sharing his insights, stating, “I will always try my best to share my positions as well.”
While Ash Crypto anticipates a substantial correction in the short term, he remains optimistic about the long-term prospects of the crypto market. He revealed that he is currently holding various altcoins (cryptocurrencies other than Bitcoin) in anticipation of a potential “altseason,” where these alternative coins could potentially see gains of 10x to 100x. Ash Crypto plans to hold these altcoin positions comfortably for the next 12-16 months.
It’s worth noting that Ash Crypto’s predictions should be taken with a grain of salt, as the crypto market is known for its volatility and unpredictability. However, his track record of accurately calling the recent dip adds weight to his analysis.
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