Bitcoin prices are struggling to surpass the key $100,000 mark, and analysts are beginning to raise alarms due to changes in economic factors. Amid the wider market slump, cryptocurrency trader Jason Pigino warns that the probability of a Bitcoin collision is increasing. He highlights key market metrics, including a decline in interest in Bitcoin and a decline in trading volume. But he’s not the only one who has said Peter Brandt and Robert Kiyosaki have issued similar warnings recently.
Pizzino finds warning signs in the market
Famous cryptocurrency trader Jason Pizzino analyzes the Blood Trail and believes Bitcoin is showing clear signs of weakness. He points out that interest in Bitcoin is declining, as seen in Google Trends data. Few people search for Bitcoin and Crypto searches, with only 24 out of 100 search volumes for Bitcoin and 12 for the entire crypto search. This suggests that the excitement around the code is being cooled.
Another important signal Pizzino highlight is the decline in exchange trading volume. He explains that the daily exchange of Bitcoin, or how much crypto is being traded within 24 hours, is steadily decreasing. It has not fallen to extreme lows yet, but remains far from the $130 billion tally of past bull runs. He considers this a warning that fewer people are actively buying and selling, weakening Bitcoin price transfer.
For Bitcoin to regain its bullish momentum, Pizzino believes it will have to score a round of up to $103,000, exceeding its February 3rd high of $102,600. He emphasizes that Bitcoin needs to close this level multiple times. If Bitcoin can’t retrieve this level, he warns that the chances of crashes continue to increase.
Klarck predicts a bitcoin crash next week
While Pizzino is focusing on technical indicators, Crypto analyst Klarck is taking a more urgent attitude, predicting that a Bitcoin crash will begin early next week. After spending time analyzing market data, he believes Bitcoin’s recent growth phase has ended and a long-term revision is ongoing.
Klarck lists two main reasons behind his bearish outlook. First, he points out an increase in CPI inflation. This can hurt market sentiment and help keep investors away from dangerous assets like Bitcoin. Second, he claims that Binance, one of the world’s largest crypto exchanges, has sold all of its Bitcoin Holdings. In the truth, this could increase sales pressure and lower prices.
According to Klarck, Bitcoin’s next stop is $85,000 before a bigger crash occurs. He warns traders to prepare for upcoming news events that could cause a sharper decline.
The market holds breath
At the time of writing, Bitcoin is trading at $96,220. When an analyst discovers multiple warning signs, the next few days will be important in determining whether Bitcoin can recover, or whether the crash scenario will unfold as predicted.