- Reputed analyst remains certain that the price of Bitcoin (BTC) will fall.
- He believes the price of BTC will fall below $90,000 in October.
- The analyst also calls for the end of the bull cycle without an altseason.
The price of the pioneer crypto asset set two consecutive ATH prices in the $125,500 price range, igniting bullish price expectations for the remainder of the year’s Q4. While many are sharing bullish forecasts and price predictions, one reputed analyst remains certain that the price of Bitcoin (BTC) will fall to $90,000 in October. In fact, he mentions that he will take a break from crypto and come back in November when his shorts will profit.
Reputed Analyst Remains Certain That the Price of Bitcoin Will Fall
The analyst, known as Doctor Profit, often shares weekly updates where he shares crypto and sometimes stock market predictions. More often than not, his price predictions tend to be accurate, and this time, he is predicting a massive price correction that could take the price of BTC down to $90,000. He is so sure of this outcome that he declares the latest weekly update to be his only one for the month of October.
As we can see from the post above, the analyst says that he will be back in November, as according to him, the current crypto market appears to be entering a highly unstable zone. He says most of the crypto community fail to see or understand due to high market euphoria at the moment. He also goes on to remind the crypto trading community that his sell zone of $115,000 – $125,000 price region remains a large distribution area.
In detail, this price area is where large players are selling into the crowd that is buying happily as they do not understand that the sell pressure is not visible yet as retail buyers flow from all directions. While retail sentiment across X remains euphoric and today’s fake pump that ended with a downside move after hitting the $125.000 will provide one more headline in the news of a new ATH to attract more retails to jump in.
The Crypto Analyst Expects BTC to Fall to $90,000 in October
The analyst then goes on to explain the many interesting patterns and financial market indicators that act as an early warnings of a liquidity crunch brewing beneath the surface. Firstly, he highlights the repo crisis, and the $7 trillion in MMFs. Next, he mentions the US banking fragility and the crypto market ETF inflows. Lastly, he shed light on MSTR & the yield-panic signal and about insider selling.
Finally, he concluded by saying that since August there has been a large amount of Insider sales in the last 2-3 years, stating that till this day insiders continue to dump their own shares into the market at a massive speed. At the same time there has been what he calls the largest retail investor inflow yet. This mix, he concludes, is highly toxic and usually occurs at cycle tops.
