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Experts Predict When This Year's BTC Short Rally Might End

19-Aug-2022 By: Shikha Jha
Experts Predict When

Making the right investment selections at the right time becomes critical for investors throughout an uncertain market cycle. The current cycle is making it extremely harder to assess the situation for businesses that are experiencing losses. Even though Bitcoin's (BTC) price has been rising over the past month, there has been a modest price correction in recent days. The cryptocurrency is over 70% lower than its all-time high at its current range.

To End In The Upcoming Months Is The Bitcoin Rally?

The current cycle differs from prior bear cycles on all counts. According to Crypto Quant's perspective, the current bear market has been rather "gentle" compared to the cycles from 2014 and 2018. Since November of last year, the market has been in a persistent downturn as the price of bitcoin has fallen. This year's market prospects have also been harmed by unfavourable macroeconomic attitudes.

In the coming months, it's anticipated that Bitcoin will trade around the $15,000 mark. Based on price trends over previous bear market cycles, this was determined. Even though market movements will inevitably fluctuate, a glance at previous cycles provides a broader perspective. The zone of greatest pressure will be discovered near the end of the year, beginning in October, if the current trend is repeated. between the price range of $10,000 and $14,500."

What lies ahead for the year 2022?

Consequently, the market may be anticipating a long-term cryptocurrency rally moving into 2023. If Bitcoin starts to fall in the coming months, it could as well continue until the year's conclusion. It is unclear if the short rally in Bitcoin will come to an end in the near future. According to CoinGabbar, the price of Bitcoin as of this writing is $23,332.38, down 0.40% over the last 24 hours. The cryptocurrency experienced a week-over-week decline of 4.05%.

Meanwhile, analysts predict that the short-term aim for the price of BTC will be $21,000 to $20,000. The price is expected to fall to this range if there is immediate selling pressure.

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