Bitcoin's recent price surge may not last
Bitcoin (BTC) has reached six-week highs in early October, but analysts are still predicting a potential crash back to $20,000.
Skepticism remains despite recent price strength
Despite a 6% increase since the beginning of last month, Bitcoin's current price behavior is not convincing everyone.
Analyst warns of bearish October ahead
Popular trader and market analyst CryptoBullet believes that Bitcoin may still drop to $20,000. He points to a classic technical pattern forming and suggests that the second half of October could be bearish.
Two analysts caution about repeating history
In a blog post, Joao Wedson, founder and CEO of crypto trading resource Dominando Cripto, draws comparisons to Bitcoin's performance in previous years. He warns that Bitcoin's recent volatility and downward trend could lead to sub-$20,000 levels.
Experts urge action to prevent long-term decline
Other analysts, including trader and analyst Rekt Capital, are calling for bullish investors to protect support levels to avoid a potential long-term retracement.
Please note that this article does not contain investment advice and readers should conduct their own research before making any decisions.
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