- Bitcoin still expected to fall below $100,000.
- This outcome is expected even if September closes in green.
- Can BTC recover and hit a new ATH in Q4?
The price of the pioneer crypto asset, Bitcoin (BTC), has recovered back to the $111,000 price range, igniting expectation for BTC to set one last new ATH price in Q4. However, one analyst remains certain that BTC will fall. In fact, Bitcoin still expected to fall below $100,000, according to this analyst, even if BTC closes September in a bullish green. Overall, he expects BTC price to sink to the $90,000 price range.
Bitcoin Still Expected to Fall Below $100,000
A highly reputed and popular crypto analyst, Doctor Profit, known for his many accurate market and crypto price predictions so far, has been preaching that the bull cycle is over and that the price of BTC will go bearish soon. Initially, he expected the price of BTC to fall to $90,000 to close a CME Gap between $90,000 and $95,000. Now, he believes that BTC has set a cycle top price and that the price of BTC will go bearish.
As we can see from the post above, the analyst goes on to state how Bitcoin is perfectly following his plan and is right on track for the target of the $90,000 – $94,000 price region. He marks how BTC is down 10% since his previous sell and short entry and is preparing to move towards the next downside target, which is located at the $106,000 region. This, he believes, is the next target for the very short term.
Additionally, he states that a small bounce can be expected in the $106,000 price area to fuel more liquidity into the downside. He also states that retails act bullish when they see a 3–5% fake pump, especially when all bullish posts take the markets, with charts of potential reversal patterns, and bullish altseason calls. Despite this he remains resolute on this BTC to $90,000 expectation.
BTC Bearish Even if September Closes in Green
Next, he states that the market is now fully desperate and always needs new fuel to stay alive. Some of this desperate fuel is coming directly from the Trump Family, with Trump calling for higher stocks, and his son Eric calling for buying the dip and a strong Q4 this year and a super bullish Q4 for crypto.
He concludes by saying that the entire economy looks extremely problematic and expects More confusion and uncertainty to come in the days and weeks ahead. These factors will come from the fact that Japan’s 10-year bond yield has reached the highest level since the Global Financial Crisis, and the repo-to-reserves ratio is nearing 99%, which by default signals funding stress, margin strain, and forced selling.
Thus, in the eyes of this analyst, the only possible bullish angle would be if central banks flood the system with liquidity, but under current market conditions, he strongly doubts this will happen. He ends his post with a recall back to his September prediction in August, where he said BTC would fall below $100,000. Now, he says that even if the timing is a little off, the price of BTC will drop to $90,000.
