With Bitcoin (BTC) still struggling to surpass and stay over the critical psychological price level at $60,000, some cryptocurrency experts predict another massive crash before the maiden crypto asset can continue toward making new all-time highs (ATHs).
As it happens, Bitcoin has been increasing its dominance in recent weeks, signaling the possibility of a strong crash as it happened before, according to the observations shared by pseudonymous crypto market analyst Mikybull Crypto in an X post on August 12.
Bitcoin crash before recovery
Specifically, the crypto trading expert has noted that Bitcoin’s “crash down will be as violent as it was after the cycle bottom signal,” matching the flagship decentralized finance (DeFi) asset’s dominance cycle top confirmation, as the analyst’s chart demonstrates.
Bitcoin dominance vs. price. Source: Mikybull
On the other hand, Mikybull has also pointed out that its “next target as it begins its wave (5) expansion will be fi
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