Has Bitcoin entered the bear market after hitting all-time highs? What 4 Popular Analysts Have to Say – Bitcoin – US Dollar ($ BTC)

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Popular cryptocurrency analysts see Bitcoin (CRYPTO: BTC) rising further even as the apex cryptocurrency retreated after hitting all-time highs this week.

What happened: Kaleo, a pseudonymous technical analyst, told his more than 409,000 Twitter followers that users could miss out on huge profits if Bitcoin’s “last plunge” to $ 65,288 scares them.

#Bitcoin / $ BTC

If one last dip at the top of that range scares you, probably ngmi pic.twitter.com/iwBWsfs68T

– KALEO (@CryptoKaleo) October 21, 2021

Amsterdam-based popular cryptocurrency analyst Michaël van de Poppe dismissed speculations that Bitcoin was entering a bear market. Instead, he believes the cryptocurrency is at the start of a massive second round of the current bull cycle.

No, we are not going into a bear market.

We are at the start of a massive second round of this bull cycle.

Stay focused.

– Michaël van de Poppe (@CryptoMichNL) October 21, 2021

See also: How to buy Bitcoin (BTC)

Justin Bennett, a cryptocurrency analyst and trader with more than 82,000 Twitter followers, noted that if Bitcoin’s close on Thursday below $ 64,000 could result in “a few days of pain,” the cryptocurrency could next. find support in the range of $ 58,000 to $ 60,000.

Probably a few days of pain for $ BTC given Thursday’s close below $ 64,000.

$ 58,000 – $ 60,000 is the next key support area.

– Justin Bennett (@JustinBennettFX) October 22, 2021

Another closely watched cryptocurrency pseudonym trader, Pentoshi, told his 319,000 Twitter followers that Bitcoin could hit the $ 180,000 level in the first quarter of next year.

180k by the first quarter or the market is fake $ btc https://t.co/cWc7sl2tq2

– Pentoshi won’t beg you. hate Dm. DMs are scams (@ Pentosh1) October 20, 2021

Why it matters: Bitcoin, the largest cryptocurrency by market cap, hit an all-time high of $ 66,930.39 on Wednesday as part of the momentum given by the launch of the first US ETF based on contracts at Bitcoin term, ProShares Bitcoin Strategy ETF (NYSE: BITO).

The cryptocurrency’s gains since the start of the year stand at 115.01%.

Price Action: Bitcoin has fallen 2.8% in the past 24 hours, trading at $ 63,015.66 at press time.

Read More: Could ‘Bitcoin $ 69,420’ Be A Cryptocurrency Signing Event?

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