One analyst says that the last opportunity to buy #Bitcoin at an attractive price may fall 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, there is speculation about what would be the best price to buy Bitcoin before the start of a new bullish rally.
Analyst believes Bitcoin price will fall 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 big drop before the next big bull cycle begins.”
The analyst accompanied his publication with an image that reflects the statistics of the price movement by month.
The Bitcoin analyst also gave a forecast, according to which the cryptocurrency will be able to surpass the level of $100,000 in the spring of 2026.
Sentiment turns bullish as Bitcoin halving approaches
Crypto community sentiment is turning bullish as the Bitcoin halving is less than a year away. Historically, the event has marked the beginning of a new bullish rally.
If the US Securities and Exchange Commission (#SEC ) approves the Bitcoin exchange-traded fund (#ETF ), it could become a catalyst for the next bull run.
Meanwhile, Dutch $BTC analyst PlanB has shared an indicator predicting the bullish rally for the next two years.
However, investors should not completely 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.
