the Recent crypto market crash It stunned investors around the world, but one analyst predicted it would happen long before it happened. Bitcoin briefly fell from over $125,000 to under $102,000, and Ethereum fell below $3,800, just as popular market commentator Ash Crypto predicted earlier this month.
His October 1 post on Now that the drop happened exactly as he predicted, Ash Crypto’s predictions for the coming weeks It is a strong recovery phase.
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Predicting the collapse that shook the “top”
The sell-off that sent shockwaves through the industry is a rapid change in sentiment afterwards Bitcoin’s all-time high recently On the sixth of October. Bitcoin’s drop from more than $125,000 to below $110,000 caused widespread panic that trickled down to other cryptocurrencies, while Ethereum followed with a sharp decline to below $3,800. Over $19 billion in leveraged trades Filtered across different exchanges In less than a day, making it one of the largest sweeps in cryptocurrency history.
However, the timing of the incident aligned almost exactly With projection on X social media platform by Ash Crypto. On October 1, Ash Crypto explained what he called a “pump and dump setup” designed to catch overconfident bulls. In his post, he warned that gains at the beginning of the month would tempt retail traders into believing PUMPtober was real before the market reversed violently to dump them.
Notably, the analyst expected Bitcoin to fall to around $106,000 and Ethereum to $3,800 or less before rebounding later in the month. According to him, this correction phase will last until mid-October, sometime from October 15 to 20, before moving into a strong recovery in the last 10 days of the month.
What comes after landing?
Ash Crypto’s call has proven accurate, especially against the backdrop of widespread optimism about “Uptober.” Whose judgment is clouded For many crypto traders. However, despite the expected bearish move, the forecast post also carried long-term sentiment that was in line with the upside.
He explained that once market sentiment turns significantly bearish and traders start assuming PUMPtober will be cancelled, short positions will accumulate. At this point the reversal will begin in the last 10 days of October, leading to what he described as parabolic Q4 candles.
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It is expected to be Ash Crypto Bitcoin will reach between $150,000 and $180,000 by the end of Q4, while Ethereum will trade anywhere in the $8,000 to $12,000 range. It is expected that after this step A full season of altcoins This will cause the prices of many altcoins to rise by 10x to 50x in just a few months.
At the time of writing, Bitcoin is trading at $114,049 and Ethereum is trading at $4,087.
Featured image from Unsplash, chart from TradingView
The post Here’s What’s Next For Bitcoin And Ethereum first appeared on Investorempires.com.
