Top Analyst Disagrees with the Notion of a Big Bitcoin Correction at $40,000, Anticipates a 20-30% Correction in This Range
Renowned crypto trader Doctor Profit, known for his bold predictions and keen insights, recently shared his perspective on Bitcoin’s potential correction, challenging the widely held belief about the critical $40k level. Doctor Profit contends that a breakout above $38.5k is the true game changer, a stance he has consistently emphasized.
Disagreeing with the consensus, Doctor Profit foresees the first substantial 20–30% correction occurring in the range of $47–48k. Confidence emanates from his track record of predicting significant market moves with an impressive 90% accuracy.
In a testament to his analytical prowess, Doctor Profit provides a detailed account of his predictions since Bitcoin’s peak at $60k in 2021 up to the present day, showcasing a remarkable 90% accuracy in major market calls.
Key Predictions:
- April 2021 – 60k Top Prediction:
- Correctly forecasted the $60k top, advising followers to sell 85% of their crypto with a target of $18k.
- Market reacted within 15 minutes, experiencing a more than 5% downturn, eventually reaching the predicted $18k region.
- Reversal at 33k:
- Turned bullish at $33k, identifying it as the absolute bottom.
- Successfully bought back, capitalizing on the upward momentum.
- Warning at 69k:
- Issued a cautionary note at the $69k level, advising an exit from the crypto market and reiterating the $18k target.
- Accurate $18k Prediction:
- Successfully predicted the Bitcoin price hitting $18k and made significant purchases during this period.
- FTX Crash Prediction:
- Acknowledged an error in predicting the exact bottom but capitalized on the FTx crash, shorting alongside SOLANA and FTT.
- Consistent Bullish Calls:
- Maintained a bullish outlook since $18k, asserting the continuous upward trajectory of Bitcoin.
- Despite minor miscalculations, Doctor Profit reaffirmed the overall upward trend.
- Precise Market Calls:
- Called the pump from $34k to $38k, accurately forecasted the subsequent correction, and navigated subsequent market movements effectively.
- Breakout Above 38.5k:
- Predicted the pump towards $38.5k and emphasized the initiation of the second stage of the bull market with a breakout above this level.
Doctor Profit’s transparent and consistent track record underscores his proficiency in navigating the volatile crypto landscape. While no prediction is foolproof, his accuracy in major market calls provides valuable insights for the crypto community, making him a notable figure in the space.
Read also:
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- Why Ripple Is Better than Ethereum for Investment: Expert Urges Timely XRP Accumulation
- Why Galaxy Fox Might Be The 100x Star in Play-to-Earn Crypto Presales
Investors keen on staying ahead of market trends might find his analyses beneficial in navigating the ever-evolving crypto market.
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