According to cryptocurrency analyst Crypto Tony in a tweet he shared with his more than 300,000 followers, he expects Bitcoin’s price to drop to the $31,000 – $32,000 level over the next few weeks.
With the price of Bitcoin presently at $35k, Crypto Tony is sticking to his plan that Bitcoin will face rejection around current levels and descend to retest lower support.
He predicts that once Bitcoin declines to $31k-$32k, altcoins will benefit from picking up liquidity flows.
Crypto Tony believes a minor “altcoin season” could occur when Bitcoin falls to that range, as money rotates out of Bitcoin into alternative cryptocurrencies.
Read also:
- DOT Expert Explains Why You Need to ‘Buy Polkadot Before It’s Too Late’
- Ethereum Whale Makes Another Big Buy Amidst Price Rally
- XRP price stuck under $0.60. Will XRP, TRX, or $ROE Reach $1 First?
In summary, Crypto Tony forecasts Bitcoin dropping to $31k-$32k within two weeks, which he thinks will coincide with increased upside momentum and gains for the altcoin market.
We recommend eToro
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy the trades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
eToro offers staking for certain popular cryptocurrencies like ETH, ADA, XTZ etc.
