The Experienced Analyst Gave the Good News: Bitcoin Will Come to These Levels in the Short Term!

While Bitcoin (BTC) fell below $ 17,000 again, a leading technical analyst made stunning statements.

In the short term, These Levels Are Possible!

Credible Crypto, one of the best analysts of the cryptocurrency market, shared its current analysis of the Bitcoin price movement. While the analyst paints a generally optimistic picture, he predicts that BTC will reach $18,000 to $19,000 after experiencing a sharp correction once again. According to experts, when the on-chain metrics are examined and the situation in the last month is taken into account, the rise of BTC above $ 18,000 is of great importance, he says. According to the analyst, the most critical support point for BTC is located at the level of $ 16,000. While the market is still showing a bearish trend, one wonders which direction BTC will go. Credible Crypto also shared its Ethereum analysis. According to the strategist, there is a possibility that Ethereum will crash to a lower level.

Claiming that Ethereum and other altcoins will lose momentum, the analyst stressed that Bitcoin will perform better. Entering the new year, it was predicted that the bear market would end in 2022. But the Black Swan cases and the Fed’s monetary policy have led to disaster in the market. The pessimism and negative investor sentiment that emerged after the crises caused a climate of fear in the market. Bear markets are usually associated with declines in the overall market or major indices such as the S&P 500, but individual securities or commodities can be considered a bear market if they fall by 20% or more over a long period of time (usually twice).

Volatility Is Falling!

Bitcoin, while moving in a horizontal direction again, fell below the $ 17,000 level again. The price of BTC managed to rise to about $ 17,424 two days ago, but the rally in BTC was again not sustainable. Bitcoin experienced a huge selling pressure after the FTX crisis. According to current data, volatility in BTC continues to fall. Historical data reveal that long periods of declining volatility are often harbingers of a big rally.

According to Forex analysts, Bitcoin has recently been showing less volatility compared to stocks. One of the important indicators, the Fear and Greed Index, fell by 1 point to 25 today and moved into the “extreme fear” zone. Experts say that the Fed and FTX crisis will continue to affect the BTC price.

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