Bitcoin (BTC) has shown much resilience in the wake of the US Federal Reserve announcing a 25 basis points hike in the Federal Funds Rate (FFR) on Wednesday.
Based on data from CoinMarketCap, the premier cryptocurrency is up by 0.78% in the last 24 hours, with the majority of the market also posting notable gains. However, a crypto analyst has predicted a significant bearish trend for the market leader.
Incoming Dip For Bitcoin?
According to a technical report on July 27 by an analyst with the Twitter handle @CryptoFaibik, BTC is likely to plummet in value by 15-20% in the coming weeks.
Related Reading: FOMC Delivers Expected 0.25% Rate Hike, Bitcoin Holds Steady Above $29,000
However, the analyst noted that Bitcoin could first hit the $32,000 mark, indicating an imminent potential 8.6% gain on the token’s current market price.
I think $BTC will hit 32k first, and then We may Witness a 15-20% Correction in the Coming Weeks.
Share Your Thoughts #Crypto #Bitcoin #BTC pic.twitter.co
We współpracy z: https://www.newsbtc.com/bitcoin-news/crypto-analyst-predicts-bitcoin-to-drop-by-20-in-coming-weeks/
