Jamie Coutts predicts a correction for Bitcoin in the next three months
Cryptocurrency expert Jamie Coutts shared his forecast regarding the dynamics of Bitcoin. According to his macroeconomic model, the first cryptocurrency, despite the possibility of further growth, is likely to face a correction in the coming three months.
"If macroeconomic conditions worsen, the current bullish trend may prove to be short-lived, despite the overall enthusiasm. In that case, Bitcoin will face a challenging period. However, if the situation improves, the pullback will be less significant, and the asset will begin to rise again," Coutts noted.
According to the analyst, his model successfully predicted the boundaries of the previous bear cycle. Already in October, the cryptocurrency market began to show negative trends, however, the unexpected victory of Donald Trump in the U.S. presidential election on November 5 became a stimulus for a sharp rise in Bitcoin.
At the moment, his model indicates a persistent downward momentum in key indicators. This, according to Coutts, serves as a signal of an impending decrease in Bitcoin's yield.