{"id":651465,"date":"2024-11-04T10:30:10","date_gmt":"2024-11-04T10:30:10","guid":{"rendered":"https:\/\/wncen.com\/?p=651465"},"modified":"2024-11-04T08:54:08","modified_gmt":"2024-11-04T08:54:08","slug":"bitcoin-bull-market-price-28000","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin\/bitcoin-bull-market-price-28000\/","title":{"rendered":"Is The Bitcoin Bull Market Over? Analyst Reveals Bear Case That Could Send Price To $28,000"},"content":{"rendered":"

Speculations<\/span><\/a> about the <\/span>Bitcoin bull market being over<\/span><\/a> have been rife in the crypto market, particularly as the price has failed to reach its March all-time high of above $73,000. Providing a more compelling case to this narrative, a crypto analyst has released a <\/span>Bitcoin bear case <\/span><\/a>scenario that could see the pioneer cryptocurrency decline to $28,000.\u00a0<\/span><\/p>\n

Bitcoin Bear Case Unveiled<\/h2>\n

In an X (formerly Twitter)<\/span> post<\/span><\/a>, crypto analyst and Position trader Bob Loukas revealed a \u201cBitcoin bear case,\u201d unveiling a more unorthodox and <\/span>bearish scenario for Bitcoin<\/span><\/a> than most analysts have suggested. Basing his bearish scenarios on the cycle theory, Loukas proposes that Bitcoin might be part of the broader 16-year cycle, with the current market marking the final four-year phase of this cycle.\u00a0<\/span><\/p>\n

Related Reading: Shiba Inu Burn Rate Surge 24,271% While Shibarium Transactions Spike, Catalyst For Rally To $0.00008?<\/a><\/div>\n

The analyst suggested that this four-year phase could end in two ways \u2014 a distribution phase, where <\/span>prices peak<\/span><\/a> and then decline, or an upward phase, where Bitcoin experiences one last upsurge before a downturn begins. Loukas has revealed that while <\/span>cycle trends<\/span><\/a> can help predict or provide insights into a cryptocurrency\u2019s future price movements, he emphasizes that \u201cno power law\u201d guarantees that an asset\u2019s price will continually go up.\u00a0<\/span><\/p>\n

The analyst aims to desensitize investors into believing Bitcoin will forever be bullish with no downturns. He asserts that a <\/span>bear cycle<\/span><\/a> is inevitable at some point, though the timing remains uncertain.\u00a0<\/span><\/p>\n

Loukas pinpointed specific price movements in his Bitcoin chart that could serve as a <\/span>bearish signal<\/span><\/a>, suggesting a potential downturn. The analyst predicts that <\/span>Bitcoin could drop to new lows<\/span><\/a> around $28,500 by 2026. He also forecasted that after a period of volatility consisting of <\/span>price declines<\/span><\/a> and surges, the cryptocurrency could rise again to $59,500 by 2027.\u00a0<\/span><\/p>\n

\"Bitcoin
Source: X<\/figcaption><\/figure>\n

For more clarity, Loukas has proposed a narrative, suggesting that if Bitcoin were to close below the 10-month Moving Average (MA) during a \u201c<\/span>bull market<\/span><\/a>,\u201d it would be a cause for concern. Similarly, a monthly close below the $58,800 mark could indicate the start of a potential downward spiral.\u00a0<\/span><\/p>\n

The crypto analyst has estimated a 10% to 15% chance of this bearish scenario occurring, emphasizing that it was a possibility and not a certainty. He clarified that while he believes the <\/span>current market cycle<\/span><\/a> leans towards a more bullish scenario based on historical evidence, he always considers alternative scenarios. This approach is likely due to the crypto market’s inherent unpredictability and <\/span>notorious volatility<\/span><\/a>.\u00a0<\/span><\/p>\n

Related Reading: Dogecoin Bollinger Bands Squeezes Tighter Than It Was Before 2021 Rally, What This Means<\/a><\/div>\n

Analyst Sees Retail Activity Fueling A BTC Downtrend<\/h2>\n

While unveiling his Bitcoin bear case scenario, Loukas disclosed that broader interest in cryptocurrencies outside of Bitcoin has faded significantly. He revealed that there is a lack of new retail investors, and this <\/span>weakening enthusiasm <\/span><\/a>could pose a serious challenge for Bitcoin to generate new capital for growth.\u00a0<\/span><\/p>\n

According to Loukas, <\/span>retail investors’ disinterest <\/span><\/a>may stem from a shift in sentiment. Embracing cryptocurrencies has dwindled to mere speculation, and fewer people believe in their transformative potential.\u00a0<\/span><\/p>\n

\"Bitcoin
BTC price crashes back to $68,000 | Source: BTCUSD on Tradingview.com<\/a><\/figcaption><\/figure>\n
Featured image created with Dall.E, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Speculations about the Bitcoin bull market being over have been rife in the crypto market, particularly as the price has failed to reach its March all-time high of above $73,000. Providing a more compelling case to this narrative, a crypto analyst has released a Bitcoin bear case scenario that could see the pioneer cryptocurrency decline to $28,000.\u00a0 Bitcoin Bear Case Unveiled In an X (formerly Twitter) post, crypto analyst and Position trader Bob Loukas revealed a \u201cBitcoin bear case,\u201d unveiling a more unorthodox and bearish scenario for Bitcoin than most analysts have suggested. Basing his bearish scenarios on the cycle theory, Loukas proposes that Bitcoin might be part of the broader 16-year cycle, with the current market marking the final four-year phase of this cycle.\u00a0 Related Reading: Shiba Inu Burn Rate Surge 24,271% While Shibarium Transactions Spike, Catalyst For Rally To $0.00008? The analyst suggested that this four-year phase could end in two ways \u2014 a distribution phase, where prices peak and then decline, or an upward phase, where Bitcoin experiences one last upsurge before a downturn begins. Loukas has revealed that while cycle trends can help predict or provide insights into a cryptocurrency\u2019s future price movements, he emphasizes that \u201cno power law\u201d guarantees that an asset\u2019s price will continually go up.\u00a0 The analyst aims to desensitize investors into believing Bitcoin will forever be bullish with no downturns. He asserts that a bear cycle is inevitable at some point, though the timing remains uncertain.\u00a0 Loukas pinpointed specific price movements in his Bitcoin chart that could serve as a bearish signal, suggesting a potential downturn. The analyst predicts that Bitcoin could drop to new lows around $28,500 by 2026. He also forecasted that after a period of volatility consisting of price declines and surges, the cryptocurrency could rise again to $59,500 by 2027.\u00a0 For more clarity, Loukas has proposed a narrative, suggesting that if Bitcoin were to close below the 10-month Moving Average (MA) during a \u201cbull market,\u201d it would be a cause for concern. Similarly, a monthly close below the $58,800 mark could indicate the start of a potential downward spiral.\u00a0 The crypto analyst has estimated a 10% to 15% chance of this bearish scenario occurring, emphasizing that it was a possibility and not a certainty. He clarified that while he believes the current market cycle leans towards a more bullish scenario based on historical evidence, he always considers alternative scenarios. This approach is likely due to the crypto market’s inherent unpredictability and notorious volatility.\u00a0 Related Reading: Dogecoin Bollinger Bands Squeezes Tighter Than It Was Before 2021 Rally, What This Means Analyst Sees Retail Activity Fueling A BTC Downtrend While unveiling his Bitcoin bear case scenario, Loukas disclosed that broader interest in cryptocurrencies outside of Bitcoin has faded significantly. He revealed that there is a lack of new retail investors, and this weakening enthusiasm could pose a serious challenge for Bitcoin to generate new capital for growth.\u00a0 According to Loukas, retail investors’ disinterest may stem from a shift in sentiment. Embracing cryptocurrencies has dwindled to mere speculation, and fewer people believe in their transformative potential.\u00a0 Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":648165,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651],"tags":[167,428,656,679,1119,89185,1122,1144,78790,6664,26263,14690],"class_list":["post-651465","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-analyst","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-price","tag-btc","tag-btc-news","tag-btc-price","tag-btcusd","tag-btcusdt","tag-crypto","tag-crypto-analyst","tag-crypto-news"],"acf":[],"yoast_head":"\nIs The Bitcoin Bull Market Over? 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Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers. Scott\u2019s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott\u2019s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life. With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/wncen.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Is The Bitcoin Bull Market Over? 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