Is Bitcoin Price Crash To $50K Possible In The Next 30 Days?

As a seasoned analyst with over two decades of experience in the financial markets, I have seen my fair share of market rallies and crashes, bull runs and bear markets. The current Bitcoin price rally to $66,000 has raised some eyebrows, and rightly so. While it’s tempting to jump on the bandwagon and call for a new all-time high (ATH), I cannot ignore the warning signs that point towards a potential Bitcoin crash to $50,000 in the next 30 days.Today, the price of Bitcoin surged up to $66,000, sparking optimism among traders that the anticipated ‘Uptober’ surge might indeed take place. However, even with this upward trend, there’s a possibility that Bitcoin could plummet down to around $50,000 within the next 30 days. But don’t worry, if that happens, it may subsequently reach a new record high.
Why There Could Be A Bitcoin Price Crash To $50,000
As a cryptocurrency investor, I’ve been closely watching the recent predictions by CrediBULL Crypto. They’ve cautioned that Bitcoin’s price could plummet to around $50,000 or even lower, despite the current market rally. Despite this surge, they believe it’s premature to become overly optimistic about Bitcoin’s price increase, as the crypto’s value is still oscillating within the range of $60,000 and $66,000.

The analyst predicted that Bitcoin might temporarily increase around $60,000, followed by a drop to approximately $50,000. On the other hand, CrediBULL Crypto anticipates a price adjustment may happen soon, suggesting a potential decline from the $66,000 area could occur shortly. In a separate post, the analyst shared additional reasons for his continued pessimism about Bitcoin’s price.
He stated that the recent BTC rally was primarily driven by the perpetuals market, not the spot market. He highlighted the divergence between the perp and spot Cumulative Volume Delta (CVD) and how short liquidations helped fuel the move up.
In simpler terms, CrediBULL Crypto stated that the immediate market for direct transactions has started to decrease following the surge, yet the number of ongoing contracts (Open Interest) is increasing. Moreover, the cost-of-carry value (CVD) for perpetual contracts continues to rise without any funding costs being involved.
Essentially, the analyst proposes that a drop in Bitcoin’s value is imminent following its recent surge. The reason being, the price increase has propelled Bitcoin into an area where there’s been a previous decline in value, which means numerous sellers are poised to offload their Bitcoin at this level. This potential selling wave could cause another fall in Bitcoin’s price.
As a crypto investor, I’m aligning my perspective with BTC Insider and CrediBULL Crypto, who both express a bearish outlook. They anticipate a potential price crash for Bitcoin, possibly down to $50,000. Remarkably, even if the flagship crypto manages to surge to around $68,000 to $70,000, this analyst plans to short it, implying they believe it could still see a significant drop from those levels.
BTC Is At A Crucial Point
Financial analyst Ali Martinez posits that the cost of Bitcoin is at a pivotal juncture, explaining that this digital currency is again assessing its 200-day moving average (MA). If Bitcoin fails to break through this level, it could trigger another steep decline. However, it remains uncertain whether it would fall as low as $50,000 as CrediBULL Crypto forecasts.

Martinez previously suggested that if Bitcoin reaches $66,000 again after a crypto recovery, it could potentially drop to around $57,000. However, he is less pessimistic than CrediBULL Crypto because he foresees Bitcoin reaching a new record high of $78,000 following a retest at $57,000. At the moment, this analyst thinks that for Bitcoin to confirm a bullish turnaround, it must maintain its value above $65,000.
According to an analysis by CoinGape, if Bitcoin manages to end the weekly period above the $65,000 support, it might spark a surge towards $70,000.
As a crypto investor, I’m excitedly watching Bitcoin (BTC) as it seems to be on track to reach a new All-Time High (ATH). According to insights from trading firm QCP Capital, this pattern follows historical trends. In fact, in 2016, BTC didn’t kick off its rally until three months prior to the US election and doubled its price by January 2017. So, I’m optimistically anticipating a similar surge this time around!
In late 2020, Bitcoin experienced a surge in price from approximately $11,000 three weeks before the U.S. election, peaking at around $42,000 by the beginning of the following year. Given this pattern, it’s possible that Bitcoin could be headed towards another all-time high (ATH) and potentially reach that level by January of next year.