And now, who will come to save us? Analysts Point to Bitcoin’s Future After the 2022 Crash


Bitcoin (BTC) weakness in holding the $40K level took the market by surprise and took the value of the largest cryptocurrency market is down more than 44% from its all-time high of $69,000.

Now, after the crash, analysts are back on charts looking to understand Bitcoin’s next moves, and with it, the general trend of the cryptocurrency market.

For Tasso Lake, private cryptocurrency fund manager and founder of Financial Move, in the short term BTC movement may not be the start of a new bullish rally however Bitcoin fundamentals remain intact.

Fundamentals remain positive and I continue to believe in a rise to 100k usd in a new cycle”, he said.

Already Lucas Schoch, CEO and founder of Bitfy, points out that as Bitcoin has been losing value at the moment, it is now time to buy.

“For your investors, this is the right time to buy the crypto, and wait for volatility to play in the currency’s favor so they can sell the crypto asset higher,” he said.

The Worst Scenario for Bitcoin

Already the trader Dave the Wave, which nailed Bitcoin’s May 2021 crash, points out that after BTC lost its crucial support at $40,000 it faces more downside risks.

According to the analyst, Bitcoin is likely to hit support at $30,000, but it is also vulnerable to drop all the way to $25,000 in a bearish scenario.

“There. Problem is, once it loses that $40,000 area, there isn’t much support below… But support is there. Best scenario [correção contínua] – $30,000. Worst case scenario – $25,000,” he said.

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In his analysis Dave the Wave uses Fibonacci extensions as well as identifying a possible bearish head and shoulders pattern to assess a negative $25,000 target for BTC.

“For those wondering about the fib span here, it’s measuring a potential head and shoulders.”

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The cryptocurrency trader says that for Bitcoin to generate bullish momentum, it would first have to convincingly break above a descending resistance, currently at around $41,000.

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Thomas Miles

Cryptocurrency is the most recently discovered currency which will be likely at the help of modernization across the next few decades. With a limited control from the government, the crypto market is independent of many features of a sound market as we know it. Thomas brings these stories to us by weaving them into articles of general importance to all those looking at the fluctuations in the market, or new entries. Thomas is also the founder of Bulletin Bits and is an excellent leader. His leadership is the kind that makes him the most knowledgeable and experienced on the team. His wonderful work ethic and attitude are worthy of imitation!

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