{"id":428431,"date":"2020-06-25T01:00:14","date_gmt":"2020-06-25T01:00:14","guid":{"rendered":"https:\/\/ktsl888.com\/?p=428431"},"modified":"2024-06-11T14:04:21","modified_gmt":"2024-06-11T14:04:21","slug":"predicted-bitcoin-2019-bottom-next","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/predicted-bitcoin-2019-bottom-next\/","title":{"rendered":"Trader Who Predicted Bitcoin’s 2019 Bottom Says This Is Next"},"content":{"rendered":"

Bitcoin has seen a sharp correction after tapping $9,800 during Monday’s trading session. As of the time of this article’s writing, the cryptocurrency trades for $9,300 \u2014 more than 5% below the highs.<\/p>\n

This rejection at a crucial resistance zone (~$10,000) has confirmed to a number of analysts that more downside is likely. A historically-accurate trader went as far as to say that the entire crypto market will see a minimum correction of 25%.<\/p>\n

Related Reading:\u00a0Buying Bitcoin at $8k or $9k Won\u2019t Matter in 2 Years: Fund Manager Explains<\/a><\/h6>\n

Bitcoin & Crypto Market Primed to See Strong Correction<\/strong><\/h2>\n

The fact that BTC has managed to hold the $9,000s for nearly two months now has been a bullish sign to some. They argue that the consolidation is extremely similar to that seen at the start of BTC’s last bull market.<\/p>\n

Yet not everyone is convinced.<\/p>\n

A Bitcoin trader recently shared<\/a> the chart seen below. It shows that after a strong rally of over 100% from March’s lows, a 25% correction in the cryptocurrency market is likely.<\/p>\n

Bitcoin dropping by 25% from current prices would result in a price of $7,000. And Ethereum doing the same would mean a move to the $175 region.<\/p>\n

Backing this bearish sentiment, the trader in question pointed to two things:<\/p>\n