Analyst Predicts A Pull Back Before Bitcoin Bull Run

Credible Crypto, a prominent cryptocurrency analyst, predicts a pullback for Bitcoin (BTC) investors before a bull run. As per the recent tweet, Credible Crypto with the help of a chart highlighted that funding is back to neutral and low timeframes indicate investors need a bit more of a pullback before the next bull run. Notably, in the last 24 hours, Bitcoin’s (BTC) price is down by nearly 2%.

Bitcoin (BTC) prices continue to move sideways as traders remain uncertain whether the crypto market has bottomed out. Analysts believe the crypto market had already bottomed amid the FTX fiasco. As per the tweet by whale alert on December 10, a whale has transferred 9,901 BTC worth $170 million to the crypto exchange Kraken.

Will BTC rally continues after $18k?

Previously Coingape has reported that according to On-chain BTC price can bottom at $12.8k. In addition to this top Bitcoin analysts, Michael van de Poppe and “Wolf of the Wall Street” Jordan Belfort predicted that the Bitcoin price rally continues if BTC crosses $18k, and also suggested $16.5k as a critical support level.

A persistent price increase is usually accompanied by whales keeping their bitcoins. However, whales were responsible for about 80% of the Bitcoin selloff since June. As a result, the market cycle shift may result in significantly lower whale spending.

Bitcoin Live price

The live Bitcoin price is $16,972.35 USD, and the 24-hour trading volume is $18,718,367,052 USD. Bitcoin has fallen by 1.13% in the last 24 hours. In terms of rank Cryptocurrency holds number 1 rank, with a live market cap of $326,406,982,868 USD. It has a total quantity of 21,000,000 BTC coins and a circulating supply of 19,231,687 Bitcoins.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.