Prediction: Major Bitcoin Correction to $21,500 Before Soaring to New Heights

blockchain.news:

CryptoCon, a voice in the cryptocurrency analysis sphere, has recently shared via X an insightful prediction regarding Bitcoin's future trajectory. He asserts that Bitcoin, having topped around $45,000 a few weeks ago, is on the brink of a substantial correction. This correction could range between 38% and 52%, potentially bringing Bitcoin's value down to a bottom ranging between $26,000 and $21,500​​​​.

CryptoCon's analysis is grounded in technical indicators, specifically noting the LMACD crossing below the Descending Cycle Mid-Top Trend as a key signal of this impending correction. This anticipated downturn is not just a cause for concern but also presents a unique opportunity for investors. According to CryptoCon, this correction phase could offer investors who missed out on earlier favorable entry points during the “Green Year Accumulation” a chance to enter the Bitcoin market at more accessible prices. However, this drop could also trigger a shakeout of overleveraged long positions, adding a layer of risk to the market dynamics​​.

Furthermore, CryptoCon foresees a brighter future for Bitcoin post-correction, predicting a new all-time high (ATH) of around $130,000 by the end of 2025. This optimism is based on the Halving Cycles Theory, which suggests a significant uptick in Bitcoin's value approximately 21 days from November 28th, 2025​​.

In contrast to CryptoCon's prediction, a panel of experts surveyed by Finder.com suggests a more conservative outlook for Bitcoin. They predict an average value of $30,463 by the end of 2023, which is significantly lower than CryptoCon's bottom prediction. However, they anticipate a steady rise to $87,125 by 2025 and a substantial increase to $220,708 by 2030. These predictions