{"id":633486,"date":"2024-08-07T00:30:17","date_gmt":"2024-08-07T00:30:17","guid":{"rendered":"https:\/\/ktsl888.com\/?p=633486"},"modified":"2024-08-06T12:21:51","modified_gmt":"2024-08-06T12:21:51","slug":"bitcoin-crash-rebound-90000","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-crash-rebound-90000\/","title":{"rendered":"Bitcoin Crash Over? Veteran Trader Predicts Rebound To $90,000"},"content":{"rendered":"

The Bitcoin crash may be over, as a crypto trader has predicted a significant <\/span>rebound for the pioneer cryptocurrency<\/span><\/a>, foreseeing Bitcoin soaring to new all-time highs of $90,000. This bullish projection comes amid the recent <\/span>downtrend in the price of Bitcoin<\/span><\/a>, which saw a dramatic crash below $50,000 at some point over the past few weeks.\u00a0<\/span><\/p>\n

$90,000 Rebound Target Set For BTC<\/h2>\n

In an X (formerly Twitter) <\/span>post<\/span><\/a> on August 5, crypto analyst, Peter Brandt made a bold prediction, suggesting that <\/span>Bitcoin could witness a significant rebound<\/span><\/a> to $90,000 this bull cycle. Sharing a price chart depicting a series of pumps and dumps in <\/span>Bitcoin\u2019s value<\/span><\/a> since the beginning of the year, Brandt foresees the pioneer cryptocurrency hitting $90,000 before the end of 2024.\u00a0<\/span><\/p>\n

Related Reading: Dogecoin Open Interest Sees Sharp 24% Drop, Where Does Price Go From Here?<\/a><\/div>\n
\"Bitcoin
Source: X<\/figcaption><\/figure>\n

During his post, Brandt emphasized the importance of focusing on what could potentially happen (possibilities), rather than what is likely to happen (probabilities) or what is believed to be certain (certainties). This unique approach to analyzing the market avoids over-dependence on assumptions and remains flexible to various market results.\u00a0<\/span><\/p>\n

Seeking Brandt\u2019s opinion on the <\/span>current state of the market<\/span><\/a>, a crypto community member <\/span>shared<\/span><\/a> that they have been forecasting a bull flag for Bitcoin over the past few months. They inquired if Brandt concurred with this prediction and if a Bitcoin has reached a golden pocket, a key Fibonacci retracement level that often signals the next potential resistance level.<\/span><\/p>\n

Responding to the crypto community member, Brandt <\/span>negated<\/span><\/a> the possibility of a <\/span>Bitcoin bull flag<\/span><\/a>, citing various technical analytical authorities such as Schabacker, Edwards, and Magee, who state that bull flags should not last longer than two months. This ultimately suggests that if a supposed <\/span>bull flag pattern<\/span><\/a> has persisted for more than two months, then it does not meet the criteria for a bull flag.\u00a0<\/span><\/p>\n

Additionally, when <\/span>asked<\/span><\/a> by another crypto member if a possibility was just a type of probability, Brandt <\/span>clarified<\/span><\/a> that possibilities could not be described as a probability because probabilities involve assigning numbers and making assumptions. Brandt has disclosed that he strictly avoids trades based on assumptions to remain open to all possible outcomes without bias.\u00a0<\/span><\/p>\n

Bitcoin Regains Strength After 23% Market Crash<\/h2>\n

Before Brandt predicted a rebound to $90,000 for Bitcoin, the cryptocurrency had experienced a sharp decline in its price. Over the past week, <\/span>Bitcoin\u2019s price had fallen<\/span><\/a> to around $52,000, marking a significant drop of more than 23%, according to CoinMarketCap.\u00a0<\/span><\/p>\n

Related Reading: VanEck CEO Compares Bitcoin Adoption To Gold, Reveals Why Price Will Touch $350,000<\/a><\/div>\n

Despite the recent <\/span>price crash<\/span><\/a>, Bitcoin has seemingly <\/span>regained positive momentum<\/span><\/a>, recording a price increase of 11.77% in just 24 hours. Based on CoinMarketCap\u2019s reports, Bitcoin\u2019s daily trading volume has also surged by 30.65%.\u00a0<\/span><\/p>\n

The cryptocurrency appears to be breaking out of its <\/span>previous bearish trends<\/span><\/a>, steadily approaching previous price highs around the $60,000 mark. At the time of writing, Bitcoin is trading at $55,903.\u00a0<\/span><\/p>\n

\"Bitcoin
BTC price reverses gains from $56,000 | Source: BTCUSD on Tradingview.com<\/a><\/figcaption><\/figure>\n

Featured image from Skilling.com, chart from Tradingview.com<\/p>\n","protected":false},"excerpt":{"rendered":"

The Bitcoin crash may be over, as a crypto trader has predicted a significant rebound for the pioneer cryptocurrency, foreseeing Bitcoin soaring to new all-time highs of $90,000. This bullish projection comes amid the recent downtrend in the price of Bitcoin, which saw a dramatic crash below $50,000 at some point over the past few weeks.\u00a0 $90,000 Rebound Target Set For BTC In an X (formerly Twitter) post on August 5, crypto analyst, Peter Brandt made a bold prediction, suggesting that Bitcoin could witness a significant rebound to $90,000 this bull cycle. Sharing a price chart depicting a series of pumps and dumps in Bitcoin\u2019s value since the beginning of the year, Brandt foresees the pioneer cryptocurrency hitting $90,000 before the end of 2024.\u00a0 Related Reading: Dogecoin Open Interest Sees Sharp 24% Drop, Where Does Price Go From Here? During his post, Brandt emphasized the importance of focusing on what could potentially happen (possibilities), rather than what is likely to happen (probabilities) or what is believed to be certain (certainties). This unique approach to analyzing the market avoids over-dependence on assumptions and remains flexible to various market results.\u00a0 Seeking Brandt\u2019s opinion on the current state of the market, a crypto community member shared that they have been forecasting a bull flag for Bitcoin over the past few months. They inquired if Brandt concurred with this prediction and if a Bitcoin has reached a golden pocket, a key Fibonacci retracement level that often signals the next potential resistance level. Responding to the crypto community member, Brandt negated the possibility of a Bitcoin bull flag, citing various technical analytical authorities such as Schabacker, Edwards, and Magee, who state that bull flags should not last longer than two months. This ultimately suggests that if a supposed bull flag pattern has persisted for more than two months, then it does not meet the criteria for a bull flag.\u00a0 Additionally, when asked by another crypto member if a possibility was just a type of probability, Brandt clarified that possibilities could not be described as a probability because probabilities involve assigning numbers and making assumptions. Brandt has disclosed that he strictly avoids trades based on assumptions to remain open to all possible outcomes without bias.\u00a0 Bitcoin Regains Strength After 23% Market Crash Before Brandt predicted a rebound to $90,000 for Bitcoin, the cryptocurrency had experienced a sharp decline in its price. Over the past week, Bitcoin\u2019s price had fallen to around $52,000, marking a significant drop of more than 23%, according to CoinMarketCap.\u00a0 Related Reading: VanEck CEO Compares Bitcoin Adoption To Gold, Reveals Why Price Will Touch $350,000 Despite the recent price crash, Bitcoin has seemingly regained positive momentum, recording a price increase of 11.77% in just 24 hours. Based on CoinMarketCap\u2019s reports, Bitcoin\u2019s daily trading volume has also surged by 30.65%.\u00a0 The cryptocurrency appears to be breaking out of its previous bearish trends, steadily approaching previous price highs around the $60,000 mark. At the time of writing, Bitcoin is trading at $55,903.\u00a0 Featured image from Skilling.com, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":633498,"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-633486","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":"\nBitcoin Crash 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:\/\/ktsl888.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Crash Over? 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