Bitcoin (BTC) To Fall To $4,600 Before $2,000 Rally, Analyst Suggests

Over the past few days, the crypto market has entered an eerily calm state, with Bitcoin (BTC) barely budging on a day-to-day basis. However, a leading analyst claims that this may end soon, recently predicting that volatility will soon pick up once again, whether we like it or not.

Galaxy, as the analyst is known, recently remarked on Twitter Bitcoin’s current price action and volume profile all point towards the fact that BTC will mirror the price action it did in late-December to early-April, in what is known as a “fractal.” If Bitcoin replicates how it acted in the aforementioned time frame, BTC will fall by $500 to ~$4800 in the next 72 hours, slowly decline to the $4,600 to $4,800 range to hit the lower bound of an ascending channel, then embark on an eventual rally to $6,800. Seemingly referencing his comments about altseason, he adds that this move will result in a “typical correction” for altcoins, followed by a stronger recovery.

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