Bitcoin has been on a winning streak for the better part of October and the multiple surges since then have pushed the price above $35,000 before correcting back downward. Even now, Bitcoin continues to show strength but not everyone is convinced that this winning streak will continue. One of these is a crypto analyst who has maintained that the price of Bitcoin will be headed back downward with an immense drop in price to crown the rally.
Seeing Bitcoin At $8,000
The crypto analyst who goes by holeyprofit first posted their analysis of Bitcoin on TradingView on October 22, right at the start of the uptrend. At this point, the Bitcoin price was still hovering just around $30,000, and the analyst posited that the price of asset would not be able to climb above $31,000.
According to the analyst, the recovery would make investors want to get in the market because they believe the price of BTC would continue to go up. However, this would be a bull trap and a consistent downward trend would
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