According to Bluntz (a well-known cryptocurrency analyst) the price of Bitcoin will fluctuate sidelong for another year or more in a small number range. Up to now, he’s been right.
On August 29, he made a post in his Twitter account and within six weeks from that day, Bitcoin has been trading edge side from about $17.500 to $25.000.
Bluntz Prediction details
According to the information in his post, at his worst scenario, Bitcoin price will stay in the maximum pain range for the upcoming 329 days. The ‘maximum pain’ situation on the market is the state when the stock remains with the price that leads to an economic loss to all the investors. This word is used to describe a range of situations on the market, including cryptocurrency trading.
The next Bitcoin’s second-life is expected to happen approximately in 2024 (March) – after 527 days of fluctuations in a narrow price corridor. It may be a long time before the Bitcoin price becomes higher, and it has to go through a significant bearish period.
Bluntz’s prediction of the Bitcoin price gives a chance to speculate on the market. The new downturns of the Bitcoin price (it falling lower than $17,500) makes it too tiresome for investors to hold their share, and they just decide to sell it right away. So long-term investments turn into liquidations.
Is the future optimistic?
The present $25,000 level is expected to be erased ($25,211 against USDT on Binance). However, all investors might be disappointed – the Bitcoin price is not predicted to become profitable in both bullish and bearish situations.
The Blunz account has more than 211,000 subscribers who trust him and his predictions. He is considered to be one of the most well-known and followed crypto-analysts on social media. His attached tweet has already become one of the most viewed Bitcoin price predictions. Blunz does not expect the Bitcoin price to have an optimistic future – it will reach neither $28.000 on the upper side of the price movement nor $12.000 on the downside.
His previous prediction made six months ago informed us that Bitcoin will reach the bottom of the bear market with the price falling by $3.200 with a $200 gap on each side. Later, in December, Bitcoin fell by $3.156.
All of this info makes Blunz a rather trustworthy man and crypto-analyst, but taking into consideration his words and predictions, it all creates a negative scenario for investors in the future.