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CryptoPotato1 min read
Bitcoin bears eye $50K bottom as analysts claim final flush still to come
TL;DR
Crypto analysts predict Bitcoin may drop to $50,000 before recovering. Ivan Liljeqvist and Merlijn Enkelaar suggest a final flush is still to come, indicating ongoing bearish trends.
Key points
- Analysts predict Bitcoin may drop to $50,000
- Ivan Liljeqvist believes the big flush has not happened yet
- Merlijn Enkelaar suggests a second bear market phase is approaching
Ivan LiljeqvistMerlijn Enkelaar
Several crypto analysts still believe that there will be a final flush out that sends Bitcoin prices as low as $50,000 before the cryptocurrency is able to mount a measurable recovery.
Bitcoin (BTC) trader and author Ivan Liljeqvist posted to X on Tuesday that Bitcoin is yet to have “the big flush.”
“I don’t think we’ve had it yet, I don’t think $60,000 was the bottom,” he added. “Trend is still down.”
Liljeqvist said the few bounces that Bitcoin has seen “are tiny” in comparison to its wider price trend, and the strength seen in past bull markets is “just not here right now.”
The analyst Merlijn Enkelaar said that Bitcoin was about to enter its second bear market phase after accumulation, and a “manipulation phase” could send Bitcoin down to $50,000 before the third “distribution phase.”
Nick Ruck, the director of LVRG Research, told Cointelegraph that Bitcoin falling to the $50,000 level is being seen as “the last significant accumulation zone before any sustained recovery and would represent a healthy cycle reset amid macro pressures and weak capital rotation.”
“This could potentially set up for stronger bullish momentum once the flush concludes, but the institutionalization of crypto markets places consistent buying pressure at current levels.”
Bitcoin could be about to enter a manipulation phase, sending it much lower. Source: Merlijn Enkelaar
Bitcoin still looks “super bearish” on the high time frame, said analyst “symbiote” on Monday. “I am waiting for a final huge dump to one of my targets: $59K or $50K. Either way, [the] last dump is coming,” he added.
Meanwhile, analyst “Jelle” identified a bearish flag chart pattern, which was “still in play” on Monday. The bear flag is a bearish trend continuation signal indicating further price declines.
Q&A
What do analysts predict for Bitcoin prices in the near future?
Analysts predict that Bitcoin may drop to $50,000 before it can recover, indicating a bearish trend.
Who are the analysts suggesting a final flush for Bitcoin?
Analysts Ivan Liljeqvist and Merlijn Enkelaar are suggesting that a final flush could bring Bitcoin prices down to $50,000.
What is the current trend for Bitcoin according to analysts?
Analysts indicate that the current trend for Bitcoin is still downward, with no significant recovery observed yet.
