Amidst a turbulent climate, Bitcoin’s value has dipped below the $60,000 threshold for the first time in an extended span, teetering precariously at this mark. The market witnessed a notable slide when it succumbed to the $70,000 milestone last week. A variety of factors, including U.S. data and interest rate policies, are thought to have contributed to this downward trend.
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In the corridors of financial insight, a Bitcoin (BTC) analyst has recently issued a stark warning, suggesting that the bullish era for Bitcoin may be drawing to a close, with a potential phase of substantial downturns on the horizon. To stay abreast of the latest financial and business headlines, turn to COINTURK FINANCE.
Dave the Wave, a seasoned analyst, has been a voice of authority among his numerous followers on X. His latest pronouncement hints at potential volatility for BTC. He posits that Bitcoin might soon embark on a downward trajectory, potentially sliding back to the 0.38 Fibonacci level at $50,000.
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Dave the Wave keeps a vigilant eye on the monthly chart, seeking clarity on the market’s potential reversal.
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Since Dave the Wave’s chart was published, Bitcoin’s monthly slide has intensified, persisting beneath the support threshold.
In a new forecast, the analyst has made another significant prediction. Shifting focus away from the market’s fleeting fluctuations, Dave the Wave has applied the logarithmic growth curve (LGC) chart to Bitcoin. This tool is designed to unveil the long-term cycles of highs and lows for Bitcoin, and it indicates that a market zenith for Bitcoin might arrive by December 2025.
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Based on the analyst’s analysis, BTC could surge past the $300,000 mark by the year’s end.
Currently, Bitcoin price is holding steady at $60,300, having experienced a 5.9% dip over the past 24 hours.
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**Disclaimer:**
The content of this article is for informational purposes only and does not constitute investment guidance. Investors should be mindful that cryptocurrencies are inherently volatile and risky, and are encouraged to conduct thorough personal research before making any investment decisions.