The current price performance of digital assets raises questions about the sustainability of the bull market for Bitcoin (BTC) and altcoins.

Analysts and industry experts offer different views on the future of cryptocurrencies, looking at market trends, macroeconomic factors and investor behavior.

Analyst forecasts for Bitcoin and altcoins

Bitcoin investor Murad Makhmudov highlighted two possible scenarios for the future of BTC. He suggested that if the price remains above $60,000, the bull market could continue, following a typical four-year cycle. However, depending on macroeconomic conditions, a global recession could reduce the value of the main cryptocurrency to $30,000.

BTC price analysis. Source: TradingView

Julio Moreno, head of research at CryptoQuant, pointed out the high probability of Bitcoin reaching $60,000. He said that BTC is at a critical level, around the realized price of short-term holders of $62,800. This indicator can either support the price or lead to a correction by 8% to 12%.

Experienced trader Peter Brandt believes that a breakdown of the $60,000 support level could lead to a further fall to $48,000.

Realized price for short-term BTC holders. Source: CryptoQuant

Meanwhile, analyst Bob Lucas took a more moderate view, predicting a period of consolidation similar to that seen last summer. He highlights the possibility of the pattern repeating itself, suggesting that patience may be required while the market stabilizes.

“The consolidation of last summer, visualized this summer. I’m not saying it will happen again, but it’s a reminder of what’s possible and the patience that may be required,” Lucas said.

Will Clemente, co-founder of Reflexivity Research, also expects a consolidation phase. He adjusted his investment strategy, maintaining only his main assets - BTC and a few other positions.

Clemente believes that Bitcoin could show growth in the fourth quarter, but it will depend on economic data and the actions of the Federal Reserve.

BTC price analysis. Source: TradingView

Regarding altcoins, Andrew Kang, co-founder of Mechanism Capital, expressed caution. He is not confident that the momentum created by the approval of spot Bitcoin ETFs will spread to altcoins, especially Ethereum.

Analysts at Santiment noted increased panic among investors as the price of BTC fell to $65,000. Continued selling could lead to a temporary rebound and buying opportunity.

“Spikes in mentions of selling or profit-taking are common after a dip, and a temporary rebound and buying opportunity could form if we see continued fear and panic among small traders,” Santiment explained.

Social sentiment on BTC. Source: Santiment

In conclusion, the future of the Bitcoin and altcoin bull market remains uncertain. The direction of movement of digital assets will largely depend on macroeconomic factors and changes in investor sentiment.

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