- Reputed crypto analyst expects BTC to dip as low as $79,000.
- This correction is expected before the bull market can continue.
- That could lead to BTC price between $91,000 – $98,000.
The final days of Q3 seems to be an interesting time for Bitcoin and altcoins, as these crypto assets have pumped in a short time. In particular, the price of Bitcoin (BTC) went as far as $87,000 and is currently trading at $86,000. Following the sudden surge from $81,000, one reputed crypto analyst expects BTC to dip as low as $79,000 before the bull market pump can continue.
Reputed Crypto Analyst Expects BTC to Dip as Low as $79,000
The reputed crypto analyst Doctor Profit predicted back in August that the bear market would be over soon and that the early phase of the bull market would follow. Known for his many accurate predictions, this silver-tongued analyst hit the hammer on the nail once again. Soon after his prediction, the price of BTC surged from the $50,000 to the $60,000 price range and eventually reached $70,000.
The analyst then went on to declare that $54,000 was the bottom and revealed that he accumulated BTC and ETH while BTC was trading between $54,000 and $64,000. Thus, with BTC trading above $71,000, he stated that the bear market phase had ended and that we’ve entered the early phase of the bull market. Now, in the last few days, the price of BTC went as high as $87,000.
Bull Market Still Expected to Continue
Just before this pump, Doctor Profit predicted that BTC would not dip below $71,000 and will go as far up as $88,000. Now, with BTC almost hitting this target, the expert marks the pump to have bought in many FOMO traders and expects a correction to follow. With his long trades still open, the analyst revealed that he set a few short trades to leverage the coming correction as well.
As we can see from the post above, Doctor Profit says he increased his short trade to $13 million. Then he clarifies that he is not calling for a bear market, when in fact, he confirms that the bear is over. He states again that he is expecting a correction with a target of $79,000, and depending on BTC behavior at $79,000, he will then decide the next step. Still, he confirms that after this correction, the bull market will continue.
Meanwhile, another expert, as we can see above, says that the higher timeframe picture of Bitcoin is simple: the train doesn’t want to stop. He says that at this point, it is clear that BTC will clearly continue its upward momentum and the only levels that he thinks we will see a pause on are at $91,000 and $98,000. He concludes that depending on the strength of this move, either target can be hit soon.