An analyst says that the last opportunity to buy #Bitcoin at an attractive price may occur in the fall of 2023. After that, Bitcoin and the entire cryptocurrency market will enter a phase of active growth.
As the crypto market has been in a bearish trend for about two years, speculation arises about what the best price to buy Bitcoin would be before the start of a new bullish rally.
Analyst believes Bitcoin price will drop to $25,000
Timothy Peterson, investment manager at Cane Island Alternative Advisors, believes Bitcoin could fall below the $25,000 level before the end of September 2023.
According to Peterson, the drop will be the last opportunity to buy the cryptocurrency at an attractive price before the market enters a growth phase. The Bitcoin analyst wrote:
“There is a 50% chance that #bitcoin will fall below $25,000 before the end of September. This would be the last major drop before the next big bull cycle begins.”
The analyst accompanied his publication with an image that reflects the monthly price movement statistics.
The Bitcoin analyst also provided a forecast, according to which the cryptocurrency could surpass the $100,000 level in the spring of 2026.
Sentiment turns bullish as the Bitcoin halving approaches
Crypto community sentiment is becoming bullish as the Bitcoin halving is less than a year away. Historically, the event has marked the beginning of a new bullish uptrend.
If the U.S. Securities and Exchange Commission ( #SEC ) approves the Bitcoin exchange-traded fund ( #ETF ), it could become a catalyst for the next bull run.
Meanwhile, Dutch analyst $BTC , PlanB, has shared an indicator that predicts the bullish rally for the next two years.
However, investors should not fully rely on the information shared by analysts, as their predictions can often turn out to be incorrect. Investors should do their own research before buying or selling cryptocurrencies.
