Has Bitcoin Bottomed Or Will It Continue The Downtrend? Here's What 4 Analysts And Traders Are Saying

As Bitcoin BTC/USD rebounded on Monday evening, here’s what four analysts and widely-followed traders are saying about the largest cryptocurrency by market capitalization.

What Happened: Amsterdam-based popular cryptocurrency analyst Michaël van de Poppe told his 535,000 followers on Twitter that Bitcoin and Ethereum ETH/USD have bounced well on Monday evening after the Turkish Lira rebounded.

He believes the cryptocurrency market will touch the bottom during December or early January, with altcoins rebounding in the first quarter of 2022. He projects that Bitcoin will continue the bull run in the second quarter.

I do believe we'll repeat history.

� Market bottoming during December/beginning January.
� #Altcoins to bottom too, as interest diminishes.
� Altcoins to run in Q1 of 2022.
� #Bitcoin to continue run in Q2 2022.
� Correction Q3 2022.
� Bull ending in Q4 2022.
 

— Michaël van de Poppe (@CryptoMichNL) December 20, 2021

Justin Bennett, a cryptocurrency analyst and trader, said on his YouTube channel that he feels Bitcoin could fall to the $42,000 level and potentially toward the $40,000 level before finding a bottom.

He noted that Bitcoin has a tendency to fill in liquidation wicks and move below them before rebounding.

Cryptocurrency analyst Benjamin Cowen said that if Bitcoin could rebound to the $49,500 level, its last local top, then the cryptocurrency could be assumed to have temporarily broken its downtrend.

He assumes Bitcoin is filling the wick and he will buy more of the cryptocurrency.

I think I'll just assume it's a wick, buy some #Bitcoin anyways, and go to sleep.

— Benjamin Cowen (@intocryptoverse) December 21, 2021

Pseudonymous cryptocurrency analyst Altcoin Sherpa believes that Bitcoin could possibly rise to the $55,000 range first and then fall to new lows.

To clarify: I dont think we see lows broken on high time frame charts below 41-42k from here. We could go to 55k first and then new lows, that's certainly possible. But just breaking down to like 35k from here would be VERY surprising to me.

— Altcoin Sherpa (@AltcoinSherpa) December 20, 2021

Price Action: Bitcoin is up 5.1% during the last 24 hours, trading at $48,633.20 at press time.

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