Bitcoin (BTC) to Give Bears “Nice Welcome Shakeout” As Soon as This Happens: Prominent Analyst

Prominent cryptocurrency analyst and trader Bob Loukas has taken to Twitter to share his opinion as to when Bitcoin will be able to shake off all the bears.

Loukas stated that once Bitcoin gets over $34,000, “the bears will finally drop their bias”. Besides, at the same level the market will give them a “nice welcome shakeout”.

Once $BTC clears $34k the bears finally drop their bias and then the market gives them a nice welcome shakeout.

That’s called being a step behind.

— Bob Loukas (@BobLoukas) April 4, 2023

Regaining the $34,000 level does not seem an easy task for Bitcoin as BTC was last seen there in May 2022. Recently, however, Bitcoin price has rallied to even touch the $29,000 level fueled by the banking crisis that has hit the US after several major banks were shut down and bailed out or sold.

In the meantime, the flagship cryptocurrency Bitcoin has recovered after a plunge of 2.7 percent (when it lost about $1,000), triggered by the rumor that Interpol might have plans to issue a personal investigation against the head of Binance – Changpeng Zhao.

However, inexhaustible and unbendable CZ refuted this news as FUD spread by other exchanges and trashed crypto media that were writing about this. Once it happened, BTC gained back its recent losses and is now changing hands at the $28,147 level.