“Ticking time bomb”, 96.4% crash risk! Top analyst sees new crash – this week

A popular crypto trader with a high success rate is warning of a Bitcoin (BTC) crash – this week. Does the BTC price have to crash before it can rise to new highs?

Bitcoin: Forecast predicts crash in September

It was looking so good: the Bitcoin price was able to gain +2.56 percent within the last seven days – the advance over 60,000 US dollars gave hope. But the bulls were not really able to turn the ball around: within the last 48 hours, Bitcoin (BTC) has come under pressure again, even losing the $60k range. The expected interest rate cuts by the US Federal Reserve are casting their shadows ahead, as Bloomberg also commented.

The number 1 cryptocurrency is currently trading at 58,750 US dollars after a setback of 0.41 percent within the last 24 hours. Traders know: The number 1 cryptocurrency only has a limited number of attempts to move above the resistance. If BTC fails, there is a risk of a new setback to old lows. The popular top 100 trader PermabearXBT, for example, is currently warning of this.

The analyst has more than 22,000 followers on X:

“As soon as we [das Hoch über 60.000 Dollar] achieve is all that [BTC] “All we have to do is lose that $59k and we’ll see new lows”

He “EXTREMELY” doubts that the Bitcoin price can rise to 65,000 US dollars in advance, as this is unlikely.

Once we hit that high, all we need to do is lose 59k and we'll see new lows. I HIGHLY doubt we'll hit 65k FVG before then, that seems unreasonable to me.

TEAM $WOO | (@permabearXBT) 14 September 2024

His forecast: Bitcoin could pump again in the next 48 hours and move up to 62,000 US dollars. However, from the 19th, the analyst predicts an intensive correction in which Bitcoin will tumble to new lows. His price target: 50,000 US dollars!

Remember that I have an accuracy of 96.4%

that's all I'm going to say#bitcoin pic.twitter.com/hpqm1zFDTc

TEAM $WOO | (@permabearXBT) 14 September 2024

He reminds us of his predictions from the past, adding that his predictions are correct in 96.4 percent of all cases. That, says the chart expert, is “all I will say.” The next upward price breakout would then confuse people again and make them optimistic, he believes:

“The next upswing that will come will make everyone bullish again.”

It's interesting how bearish and quiet the haters have become during this sudden downward move, and they will soon become loud again.”

the next high will make everyone optimistic again

interesting how pessimistic and quiet the haters have suddenly become with this downward trend, and they will soon be loud again

TEAM $WOO | (@permabearXBT) 16 September 2024

Bitcoin is a “ticking time bomb” according to forecast

Will Bitcoin correct again this week – and so severely that new lows are on the horizon? Not everyone sees the Bitcoin bears at the helm at the moment. User Daan, for example, commented: 96.4 percent precision is all well and good – but the crash forecast may be more attributable to the remaining 3.6 percent inaccuracy.

The pseudonymous top crypto trader “nestay” is also taking a bullish stance with regard to Bitcoin. The fact that the asset has been treading water for months is something the expert considers to be the “most explosive” situation he has ever experienced in his eight years in the crypto industry. Bitcoin, he predicts, is “a ticking time bomb”. But, surprise: in a positive sense.

8 years in the crypto world, but I don't think I've ever seen such an explosive setup.#Bitcoin is a ticking time bomb. pic.twitter.com/XnJWhf1cjf

— nestay (@nestayxbt) 14 September 2024

The crypto strategy is convinced: The “Uptober” (“Up” + “October”) is heating up, Bitcoin is getting ready for new cycle highs. He shows a chart with the Bitcoin price – and a price target can also be found on it.

— nestay (@nestayxbt) 15 September 2024

Bitcoin could therefore attack the 85,000 US dollar mark as early as November – and thus mark a new all-time high. From the current price of 58,750 US dollars to 85,000 US dollars: That corresponds to a paper gain of +44.68 percent. If you want to position yourself for a possible rally: Buying Bitcoin with a bank transfer is a quick, secure option used by many investors.

Last updated on September 17, 2024

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