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Co-founders of Glassnode Jan Happel and Yann Allemann recently indicated that a Bitcoin crash to $37,000 would be a good thing. They also explained why they wouldn’t be sad about that huge price drop for the flagship crypto.
Bitcoin falling to $37,000 would be a bargain
Happel and Allemann mentioned in an X (formerly Twitter) after on their shared account that a Bitcoin price drop to $37,000 would be a bargain. They added that they will not be “angry” about the price crash as it would put them at risk possibility to buy more BTC at such low levels. The co-founders of Glassnode won’t hesitate to buy the dip as they are confident that Bitcoin will be a new all-time record (ATH) in this market cycle.
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In a previous Happel and Allemann added that BTC’s parabolic rally would be driven by a “strong altcoin undercurrent,” predicting that the altcoin season could happen soon enough.
Glassnode co-founders could get their wish for Bitcoin to drop to $37,000 before hitting a new ATH, as crypto Zoran Kole recently predicted an impending price crash for the flagship crypto. Kole said in an X post that he believes the low $40,000 range is next for Bitcoin.
The analyst further emphasized a “very clear” Head and shoulders pattern developed on Bitcoin’s chart, showing that the flagship crypto could fall to $36,000. He added that this bearish pattern “coincides with an annual open retest with strong arguments for a jump just below the current annual low of $38,500.”
Kole revealed that breaking the weekly bearish market structure could invalidate this trading setup. That means Bitcoin needs to rise above $65,000 to confirm a bullish reversal. Crypto analyst Jelle Also suggested that $65,000 is the level Bitcoin must cross to enjoy a parabolic rally to a new ATH.
BTC Breakout Will Happen in the Next “Few Weeks”
Crypto analyst Rekt Capital has offered a more bullish outlook for Bitcoin, saying history suggests so BTC outbreak could happen in the coming weeks. He also revealed that Bitcoin is on the verge of regaining its reaccumulation range and re-synchronizing with post-halving price trends. This could lead to the parabolic uptrend, which the analyst had previously said is the next phase of the trend halving cycle.
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In another X-post, Rekt Capital indicated that it was important for Bitcoin to close above 20% this month quarterly level at $58,800. He stated that a close above this price level would fully confirm Bitcoin’s successful retest of this price range as support.
At the time of writing, Bitcoin is trading around $58,400, down more than 2% in the past 24 hours. facts from CoinMarketCap.
Featured image created with Dall.E, chart from Tradingview.com
