Is the Crypto Bull Market Starting? - COINTURK NEWS
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Is the Crypto Bull Market Starting?

8:14 pm (28 days ago)
August 30, 2023

A popular analyst closely followed by cryptocurrency investors shared his latest market predictions. Credible Crypto, who has gained fame with some consistent predictions in the past, discusses noteworthy details. Is it time for investors to enter a period of growth? Will Bitcoin continue to rise? Here are the answers to all the questions.

Has the Crypto Bull Started?

The analyst known as Credible Crypto shed light on the current state of the markets in his statements on X platform. The expert, who expects a strong upward movement if Bitcoin manages to regain a key level, says that FOMO has not yet started. So when will FOMO, which will trigger a rapid rise for investors, begin?

“Real FOMO will start when the $29,000-30,000 level is surpassed. If you believe in the power of this rally, wait for the critical zone to be regained.”

Credible Crypto’s opinion was originally that there could be a further drop to $23,500 in the short term. However, Bitcoin, ignoring technical indicators, turned its direction back up with Grayscale’s definitive victory. When the court’s decision was announced, we saw that the SEC was almost scolded. The SEC, trying to convince the court with tangible and unacceptable arguments, failed to do so.

Will Bitcoin Rise?

At the time of writing, the price of Bitcoin was $27,160. The price, which exceeded $28,000 yesterday, experienced a decline today as preparation for a possible appeal. Many experts believe that even if an appeal is desired, the SEC cannot present a valid argument. According to Credible Crypto’s latest predictions, traders expect lower levels while Bitcoin is likely to continue to rise.

“Since $15,000, the market has managed to deceive many investors. Everyone had started to look at $24,000 as a definite breakthrough. The truth is that there has been no significant breakthrough in the market structure that will justify the feeling of extreme decline. The maximum pain scenario is clear: just continue the rally, as we have done many times in the past. And leave behind everyone who expects a collapse.”

Meanwhile, the analyst Bluntz says he was not affected by the recent fluctuations in Bitcoin. According to the senior analyst, there will be another drop before the real rise. The expert said he would look for closings above $28,770 to invalidate the bearish scenario. The same analyst also pointed to a rise above $2,000 for the price of ETH, sharing the graph above.

Disclaimer: The information in this article does not constitute investment advice. Investors should be aware of the high volatility and therefore the risks associated with cryptocurrencies and should conduct their own research in making transactions.

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