Against the background of the fall of Bitcoin in early May 2024, members of the crypto community shared their forecasts. Investors have differing opinions about what will happen next for BTC.
When will Bitcoin resume growth?
Opinions among members of the crypto community about what awaits BTC in the near future are divided. Some believe that there is nowhere to fall further, others are sure that new lows are ahead.
Analyst Michael van de Poppe suggestedthat BTC is in the process of searching for a local bottom. At the same time, he noted that if the level of $56 thousand does not hold, the coin risks falling to $50 thousand. Descent to the lows on May 1 the analyst explained market reaction to the next Fed rate decision. Poppe does not see any prerequisites for BTC to enter active growth in the near future. In his opinion, the most likely scenario will be a lateral movement near the occupied positions. Wherein analyst believesthat the fall of BTC opened up a good opportunity to enter the market.
Trader Mags does not exclude Bitcoin falls to $40 thousand. At the same time, he considers a prolonged sideways movement to be the base scenario.
Doctor Profit Analyst believes in the imminent resumption of BTC growth. According to his calculations, the cryptocurrency will be able to demonstrate positive dynamics in mid-May. Similar forecast gave Inmortal analyst. He believes that BTC's decline is close to ending.
To the opinion of colleagues joined Trader Captain Faibik. He expects Bitcoin to reach $78 by the end of May.
Author of the 24KCrypto channel in X supported positive Bitcoin forecast Captain Faibik. In his opinion, the cryptocurrency will be able to update its absolute maximum at the end of May. 24KCrypto outlined the expected trajectory of the coin on the chart.
Trader Stockmoney Lizards in turn sees on the BTC chart the Wyckoff distribution. The figure, in his opinion, implies a correction after touching levels around $53 thousand.
The most negative forecasts also have supporters. For example, Crypto Bitlord analyst waiting Bitcoin falls to $32 thousand. Crypto bloggers AltcoinGordon And Financelot in turn, they see the prospects for BTC to decline to $16 thousand.
Source: Cryptocurrency
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