More and more crypto-analysts are issuing pessimistic opinions about the possibilities for bitcoin (BTC) to maintain over time the trend it has been showing since the beginning of the year. This, even as every week, the apostles of the growth of the queen of cryptos defend their position with arguments as convincing as each other.
Bitcoin (BTC) out of juice?
In a video broadcast on February 2, on his YouTube channel, trading expert Tone Vays once again commented on the upward trend that bitcoin has been showing for a few weeks. According to his analysis, bitcoin (BTC) seems to be losing steam in the bull run it has been on since January 2023. For him, the queen of cryptos is unlikely to maintain this momentum as it stagnates. below $25,000.
As in an endurance race, Vays believes that the crypto has triggered a much too rapid acceleration when the market conditions in particular are not optimal. “This thing climbed way too far, way too fast” he said, according to comments reported by Daily Hodl.
From just $16,000 last November, bitcoin (BTC) rose to just over 24,000 at the start of February, an increase of almost 50% in three months. For Vays, the cause of the next wave of falling assets is not far to seek. Thus, for BTC to reap so many profits in such a short period of time does not bode well. This would explain why the crypto is struggling to break through the $25,000 mark.
Is a bullish momentum still possible?
Tone Vays does not want to have any illusions. Bitcoin (BTC) has the potential to continue its bull run, but it doesn’t matter. At least not before the asset experiences slight downtrends over the coming weeks and months.
“I expect a slight decline over the next few weeks. We could hit the $25,000 mark. I would be surprised if we broke it and went higher, so I’m looking for either consolidation or a bit of a pullback.” said the veteran trader.
Either way, the reactions of bitcoin (BTC) in the short to medium term remain difficult to predict, given the current market circumstances. This, even if some analysts already see signs of the end of the bear market for BTC.
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