{"id":634898,"date":"2024-08-13T00:30:54","date_gmt":"2024-08-13T00:30:54","guid":{"rendered":"https:\/\/wncen.com\/?p=634898"},"modified":"2024-08-12T23:53:16","modified_gmt":"2024-08-12T23:53:16","slug":"bitcoin-bear-price-to-72000","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin\/bitcoin-bear-price-to-72000\/","title":{"rendered":"Crypto Analyst Says End Of This Bitcoin Bear Trap Could Drive Price To $72,000"},"content":{"rendered":"

A crypto analyst has unveiled a highly optimistic forecast for <\/span>Bitcoin (BTC)<\/span><\/a>, suggesting that the end of the supposed <\/span>Bitcoin bear trap<\/span><\/a> could propel the price of the cryptocurrency to new highs, potentially reaching $72,000.\u00a0<\/span><\/p>\n

Bitcoin Set To Hit $72,000<\/h2>\n

In a recent X (formerly Twitter) <\/span>post<\/span><\/a>, a crypto analyst identified as \u2018Sensei\u2019 has predicted that <\/span>Bitcoin will surge to $72,000<\/span><\/a> soon. The analyst shared a price chart highlighting two parallel trend lines that trace Bitcoin\u2019s recent <\/span>price movements<\/span><\/a>.<\/span><\/p>\n

Related Reading: Analyst Says Dogecoin Price Will Surge 2,500% To $2.55, Here\u2019s When<\/a><\/div>\n
\"Bitcoin
Source: X<\/figcaption><\/figure>\n

The analyst rooted his <\/span>optimistic projections<\/span><\/a> in the potential for a bullish surge in Bitcoin following the recent market bear trap.\u00a0<\/span>Given\u00a0Bitcoin\u2019s earlier crash<\/a> of over 20%, many analysts, including Sensei, have speculated that this sharp drop might actually be a bear trap.<\/span>\u00a0<\/span><\/p>\n

The crypto analyst indicated in another <\/span>X post <\/span><\/a>that Bitcoin was moving past this supposed <\/span>bear trap<\/span><\/a>, suggesting that the cryptocurrency could reach the $72,000 target once the bear trap concludes.\u00a0<\/span><\/p>\n

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

Furthermore, Sensei <\/span>disclosed<\/span><\/a> that Bitcoin was 24% from reaching a new all time high this bullish cycle. This implies that the pioneer cryptocurrency was on the path to surpass its <\/span>March\u2019s all time high<\/span><\/a> which saw its price skyrocketing by more than $73,000.\u00a0\u00a0<\/span><\/p>\n

In his daily posts on X, the analyst shows unwavering support for Bitcoin, persistently urging investors to HODL their cryptocurrencies in preparation for a potential bullish surge. He <\/span>predicts<\/span><\/a> that the biggest bull run will start following Bitcoin\u2019s breakout between the price of $70,000 and $78,000. Additionally, he has <\/span>provided<\/span><\/a> a potential timeline for this substantial bull run, forecasting that the <\/span>Bitcoin bull run <\/span><\/a>might commence by the end of August 2024.<\/span><\/p>\n

While $72,000 may be a short term price target for Bitcoin, Sensei remains highly bullish on the cryptocurrency\u2019s long term future outlook, <\/span>anticipating<\/span><\/a> a substantial rise to $150,000.<\/span><\/p>\n

Despite <\/span>hopes of a price recovery<\/span><\/a> and subsequent bullish rally, Bitcoin has dropped below $60,000, according to CoinMarketCap. As of writing, the cryptocurrency is trading at $58,773, recording a significant 4.11% decrease in the last 24 hours.\u00a0\u00a0<\/span><\/p>\n

Analysts Stay Positive On BTC’s Future Outlook<\/h2>\n

In the face of price declines and large-scale <\/span>market liquidations<\/span><\/a>, analysts maintain a positive outlook for Bitcoin\u2019s price, <\/span>predicting massive uptrends<\/span><\/a> once the market downturn subsides.\u00a0<\/span><\/p>\n

Related Reading: Ethereum Vs. Solana: Legendary Trader Peter Brandt Reveals The \u2018Clear Winner\u2019<\/a><\/div>\n

Popular crypto analyst, Michael van de Poppe expects Bitcoin to experience a major bullish breakout following a period of consolidation. The analyst indicated that the market could be on the cusp of a significant Bitcoin bull run, potentially <\/span>propelling its price above $250,000<\/span><\/a>.\u00a0<\/span><\/p>\n

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

Sharing a similar sentiment, a crypto analyst identified as \u2018Milkybull Crypto\u2019 <\/span>noted<\/span><\/a> that Bitcoin\u2019s price was gaining strength following its higher low on a 3-day chart. The analyst has projected that the cryptocurrency is poised to witness a short term price consolidation before experiencing an upward movement.\u00a0<\/span><\/p>\n

\"Bitcoin
BTC price recovers toward $60,000 | 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":"

A crypto analyst has unveiled a highly optimistic forecast for Bitcoin (BTC), suggesting that the end of the supposed Bitcoin bear trap could propel the price of the cryptocurrency to new highs, potentially reaching $72,000.\u00a0 Bitcoin Set To Hit $72,000 In a recent X (formerly Twitter) post, a crypto analyst identified as \u2018Sensei\u2019 has predicted that Bitcoin will surge to $72,000 soon. The analyst shared a price chart highlighting two parallel trend lines that trace Bitcoin\u2019s recent price movements. Related Reading: Analyst Says Dogecoin Price Will Surge 2,500% To $2.55, Here\u2019s When The analyst rooted his optimistic projections in the potential for a bullish surge in Bitcoin following the recent market bear trap.\u00a0Given\u00a0Bitcoin\u2019s earlier crash of over 20%, many analysts, including Sensei, have speculated that this sharp drop might actually be a bear trap.\u00a0 The crypto analyst indicated in another X post that Bitcoin was moving past this supposed bear trap, suggesting that the cryptocurrency could reach the $72,000 target once the bear trap concludes.\u00a0 Furthermore, Sensei disclosed that Bitcoin was 24% from reaching a new all time high this bullish cycle. This implies that the pioneer cryptocurrency was on the path to surpass its March\u2019s all time high which saw its price skyrocketing by more than $73,000.\u00a0\u00a0 In his daily posts on X, the analyst shows unwavering support for Bitcoin, persistently urging investors to HODL their cryptocurrencies in preparation for a potential bullish surge. He predicts that the biggest bull run will start following Bitcoin\u2019s breakout between the price of $70,000 and $78,000. Additionally, he has provided a potential timeline for this substantial bull run, forecasting that the Bitcoin bull run might commence by the end of August 2024. While $72,000 may be a short term price target for Bitcoin, Sensei remains highly bullish on the cryptocurrency\u2019s long term future outlook, anticipating a substantial rise to $150,000. Despite hopes of a price recovery and subsequent bullish rally, Bitcoin has dropped below $60,000, according to CoinMarketCap. As of writing, the cryptocurrency is trading at $58,773, recording a significant 4.11% decrease in the last 24 hours.\u00a0\u00a0 Analysts Stay Positive On BTC’s Future Outlook In the face of price declines and large-scale market liquidations, analysts maintain a positive outlook for Bitcoin\u2019s price, predicting massive uptrends once the market downturn subsides.\u00a0 Related Reading: Ethereum Vs. Solana: Legendary Trader Peter Brandt Reveals The \u2018Clear Winner\u2019 Popular crypto analyst, Michael van de Poppe expects Bitcoin to experience a major bullish breakout following a period of consolidation. The analyst indicated that the market could be on the cusp of a significant Bitcoin bull run, potentially propelling its price above $250,000.\u00a0 Sharing a similar sentiment, a crypto analyst identified as \u2018Milkybull Crypto\u2019 noted that Bitcoin\u2019s price was gaining strength following its higher low on a 3-day chart. The analyst has projected that the cryptocurrency is poised to witness a short term price consolidation before experiencing an upward movement.\u00a0 Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":634902,"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":[428,656,679,1119,89185,1122,1144,78790],"class_list":["post-634898","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-price","tag-btc","tag-btc-news","tag-btc-price","tag-btcusd","tag-btcusdt"],"acf":[],"yoast_head":"\nCrypto Analyst Says End Of This Bitcoin Bear Trap Could Drive Price To $72,000<\/title>\n<meta name=\"description\" content=\"A crypto analyst has unveiled a highly optimistic 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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":"Crypto Analyst Says End Of This Bitcoin Bear Trap Could Drive Price To $72,000","url":"http:\/\/wncen.com\/news\/bitcoin\/bitcoin-bear-price-to-72000\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin\/bitcoin-bear-price-to-72000\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/08\/Bitcoin_974a24.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/08\/Bitcoin_974a24.jpeg?fit=1792%2C1024"},"articleSection":"Bitcoin","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin news","bitcoin price","btc","btc news","btc price","btcusd","btcusdt"],"dateCreated":"2024-08-13T00:30:54Z","datePublished":"2024-08-13T00:30:54Z","dateModified":"2024-08-13T00:30:54Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Crypto Analyst Says End Of This Bitcoin Bear Trap Could Drive Price To $72,000\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin\\\/bitcoin-bear-price-to-72000\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin\\\/bitcoin-bear-price-to-72000\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/08\\\/Bitcoin_974a24.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/08\\\/Bitcoin_974a24.jpeg?fit=1792%2C1024\"},\"articleSection\":\"Bitcoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin news\",\"bitcoin price\",\"btc\",\"btc news\",\"btc price\",\"btcusd\",\"btcusdt\"],\"dateCreated\":\"2024-08-13T00:30:54Z\",\"datePublished\":\"2024-08-13T00:30:54Z\",\"dateModified\":\"2024-08-13T00:30:54Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/08\/Bitcoin_974a24.jpeg?fit=1792%2C1024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/634898","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=634898"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/634898\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/634902"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=634898"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=634898"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=634898"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}