- Bitcoin price dips below $60,000, crypto analysts scramble to share their expectations.
- One analyst expects Bitcoin (BTC) price to hit $44,000 by early September.
- Another analyst expects Bitcoin (BTC) to rally to $150,000 after September.
Bitcoin’s (BTC) price dips to the $58,000 range taking the crypto market sentiment to level 25 on the Crypto Fear and Greed Index leading to an extreme fear sentiment. If FUD sentiment takes over, it could lead to a massive turnover for Bitcoin price.
A Bearish Start to September, Will BTC Dip to $44,000?
With the market acting between volatile expectations, popular analysts across the crypto space are sharing their predictions for the Bitcoin (BTC) price and the overall crypto market. In a bearish outlook, one analyst expects Bitcoin price to dip towards the $44,000 price range.
This analyst along with many others expects the month of September to result in heavy dumps in the crypto market. Others expect a bullish cycle to continue after the end of September. Meanwhile, other analysts share a long-term bullish view of the price of Bitcoin (BTC).
Since the March 2024 high, the Markets have been moving in a Descending Broadening Wedge Pattern.
We are currently in the Accumulation phase, just before the Next Massive Bullish Rally.
Most altcoins are down 60-70% since the March high, and I know Altcoin holders are… pic.twitter.com/ttWsBwMbOJ
— Captain Faibik (@CryptoFaibik) August 11, 2024
This view is elaborated upon by a user who says the current phase is an accumulation phase for Bitcoin and altcoins. He expects a massive bullish rally to follow the accumulation phase. According to this outlook, the price of Bitcoin has already bottomed and will not go below the $50,000 price mark.
September’s End Could Trigger Bullish Rally to $150,000 BTC Price
He expects the bullish rally to hit in mid-September preceding weeks of sideways movement. He then recalls the period of August-September in 2023 when Bitcoin was at the $17,000-$18,000 price range and how it surged to $74,000 following that.
Supposedly, he expects a similar movement after September when Bitcoin will hit $150,000 in the coming bull run. He ends his message with a heavy emphasis on accumulating dips to prepare for the coming bull run phase of the ongoing crypto bull cycle.
