{"id":20807,"date":"2024-05-19T15:30:30","date_gmt":"2024-05-19T12:30:30","guid":{"rendered":"https:\/\/coinengineer.io\/?p=20807"},"modified":"2024-05-19T11:18:01","modified_gmt":"2024-05-19T08:18:01","slug":"bitcoins-resilience-analysts-disagree-on-potential-for-deep-correction","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/bitcoins-resilience-analysts-disagree-on-potential-for-deep-correction\/","title":{"rendered":"Bitcoin&#8217;s Resilience: Analysts Disagree on Potential for Deep Correction"},"content":{"rendered":"<p>Regardless of speculations on the next <strong>Bitcoin<\/strong> <strong>&#8220;deep correction,&#8221;<\/strong> <strong>some cryptoanalysts stand firmly by whether it will happen or not.<\/strong> The $65K support level of bitcoin is key, and buyers in crypto are vigilant that the formation remains solid. Hence, this situation has arisen where there is uncertainty about the truth behind these speculations in the short term.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_71 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coinengineer.net\/blog\/bitcoins-resilience-analysts-disagree-on-potential-for-deep-correction\/#Analyst_Perspectives\" title=\"Analyst Perspectives\">Analyst Perspectives<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/bitcoins-resilience-analysts-disagree-on-potential-for-deep-correction\/#Recent_Rebounds\" title=\"Recent Rebounds\">Recent Rebounds<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/coinengineer.net\/blog\/bitcoins-resilience-analysts-disagree-on-potential-for-deep-correction\/#Historical_Context_and_Future_Projections\" title=\"Historical Context and Future Projections\">Historical Context and Future Projections<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/coinengineer.net\/blog\/bitcoins-resilience-analysts-disagree-on-potential-for-deep-correction\/#Current_Sentiments_and_Market_Watch\" title=\"Current Sentiments and Market Watch\">Current Sentiments and Market Watch<\/a><\/li><\/ul><\/nav><\/div>\n<h3><span class=\"ez-toc-section\" id=\"Analyst_Perspectives\"><\/span>Analyst Perspectives<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>&#8220;Bitcoin, of course, is keeping the price strong, which I don&#8217;t think will have a deep correction.\u201d <strong>Yoddha<\/strong> said on his 49900 Twitter as a contributor. Meanwhile, the bitcoin price fell by 15% from $66,421 to $56,792 in a broad correction time frame, as some people call it, on May 18. &#8220;<strong>We had been in a major correction; we had been in an extended correction, and when you mix them up, the bottom is almost always close&#8221;\u00a0<\/strong> Rekt told in a recent post on X.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Recent_Rebounds\"><\/span>Recent Rebounds<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>On May 6, BTC registered a fresh rise above the key support level at $65,146, a move that some analysts believe is a typical scene during bull runs. Market expert Starbust stated on May 18: \u201cTraditional corrections in bull trends are bombs that are steep, but their recovery is very fast.\u201d Mags, a crypto trader, explained how the market graphics sheet Wall Street Cheat Sheet&#8217;s \u201cPsychology of a Market Cycle\u201d plays a role where you can see that <a href=\"https:\/\/coinengineer.net\/blog\/latest-situation-in-bitcoin-and-cryptocurrencies-may-18\/\">Bitcoin<\/a> is beginning the \u201cbelief\u201d stage of the cycle, where investors start to feel confident about the market&#8217;s growth.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Historical_Context_and_Future_Projections\"><\/span>Historical Context and Future Projections<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>It is needless to say that the price of Bitcoin will be closely monitored by analysts and observers for more price drops, especially the last Bitcoin halving, which occurred on April 20. They have past halvings as a precedent. No sooner than the Bitcoin halving was implemented in May 2020, the price of the crypto coin rose from $9,383 to $58,328 by May of the following year. Nevertheless, this quickly resulted in a 40% correction and decreased prices to an even lower level of $35,484 in June.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Current_Sentiments_and_Market_Watch\"><\/span>Current Sentiments and Market Watch<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Yet others think that it is totally futile to study Bitcoin\u2019s price chart until it rips through $70k, which is near the record high again. On May 17, Quantum Economics founder Mati Greenspan explained that \u201cit\u2019s the breakouts that are exciting, so we need to have a breakout before doing any further analyses on the charts.\u201d Pseudonymous crypto trader PlanC reacted by saying, \u201cForget all the short-term price action.\u201d\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Regardless of speculations on the next Bitcoin &#8220;deep correction,&#8221; some cryptoanalysts stand firmly by whether it will happen or not. The $65K support level of bitcoin is key, and buyers in crypto are vigilant that the formation remains solid. Hence, this situation has arisen where there is uncertainty about the truth behind these speculations in<\/p>\n","protected":false},"author":6,"featured_media":18666,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,1],"tags":[61],"class_list":["post-20807","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-genel","tag-bitcoin"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bitcoin&#039;s Resilience: Analysts Disagree on Potential for Deep Correction - Coin Engineer<\/title>\n<meta name=\"description\" content=\"Bitcoin analysts are divided on the potential for a deep correction despite strong support above $65K. Experts weigh in on historical trends and future projections.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/bitcoins-resilience-analysts-disagree-on-potential-for-deep-correction\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin&#039;s Resilience: Analysts Disagree on Potential for Deep Correction - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"Bitcoin analysts are divided on the potential for a deep correction despite strong support above $65K. Experts weigh in on historical trends and future projections.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/coinengineer.net\/blog\/bitcoins-resilience-analysts-disagree-on-potential-for-deep-correction\/\" \/>\n<meta property=\"og:site_name\" content=\"Coin Engineer\" \/>\n<meta property=\"article:published_time\" content=\"2024-05-19T12:30:30+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-05-19T08:18:01+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/04\/tempory-17.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1260\" \/>\n\t<meta property=\"og:image:height\" content=\"840\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tanju Akb\u0131y\u0131k\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Tanju Akb\u0131y\u0131k\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/coinengineer.net\/blog\/bitcoins-resilience-analysts-disagree-on-potential-for-deep-correction\/\",\"url\":\"https:\/\/coinengineer.net\/blog\/bitcoins-resilience-analysts-disagree-on-potential-for-deep-correction\/\",\"name\":\"Bitcoin's Resilience: Analysts Disagree on Potential for Deep Correction - Coin Engineer\",\"isPartOf\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/bitcoins-resilience-analysts-disagree-on-potential-for-deep-correction\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/bitcoins-resilience-analysts-disagree-on-potential-for-deep-correction\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/04\/tempory-17.jpg\",\"datePublished\":\"2024-05-19T12:30:30+00:00\",\"dateModified\":\"2024-05-19T08:18:01+00:00\",\"author\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/286f3a00b45c1661961e40ff0a1c7546\"},\"description\":\"Bitcoin analysts are divided on the potential for a deep correction despite strong support above $65K. Experts weigh in on historical trends and future projections.\",\"breadcrumb\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/bitcoins-resilience-analysts-disagree-on-potential-for-deep-correction\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/coinengineer.net\/blog\/bitcoins-resilience-analysts-disagree-on-potential-for-deep-correction\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/coinengineer.net\/blog\/bitcoins-resilience-analysts-disagree-on-potential-for-deep-correction\/#primaryimage\",\"url\":\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/04\/tempory-17.jpg\",\"contentUrl\":\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/04\/tempory-17.jpg\",\"width\":1260,\"height\":840,\"caption\":\"Bitcoin cryptocurrencies and graph statistic background\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/coinengineer.net\/blog\/bitcoins-resilience-analysts-disagree-on-potential-for-deep-correction\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/coinengineer.net\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Bitcoin&#8217;s Resilience: Analysts Disagree on Potential for Deep Correction\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/coinengineer.net\/blog\/#website\",\"url\":\"https:\/\/coinengineer.net\/blog\/\",\"name\":\"Coin Engineer\",\"description\":\"Btc, Coins, Pre-Sale, DeFi, NFT\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/coinengineer.net\/blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/286f3a00b45c1661961e40ff0a1c7546\",\"name\":\"Tanju Akb\u0131y\u0131k\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/a027c5acae1ab2c3649244f87d705ac7ee359dd7e3222b84cb1d32ba3a8d2e18?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/a027c5acae1ab2c3649244f87d705ac7ee359dd7e3222b84cb1d32ba3a8d2e18?s=96&d=mm&r=g\",\"caption\":\"Tanju Akb\u0131y\u0131k\"},\"url\":\"https:\/\/coinengineer.net\/blog\/author\/cetanju\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Bitcoin's Resilience: Analysts Disagree on Potential for Deep Correction - Coin Engineer","description":"Bitcoin analysts are divided on the potential for a deep correction despite strong support above $65K. Experts weigh in on historical trends and future projections.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/coinengineer.net\/blog\/bitcoins-resilience-analysts-disagree-on-potential-for-deep-correction\/","og_locale":"en_US","og_type":"article","og_title":"Bitcoin's Resilience: Analysts Disagree on Potential for Deep Correction - Coin Engineer","og_description":"Bitcoin analysts are divided on the potential for a deep correction despite strong support above $65K. Experts weigh in on historical trends and future projections.","og_url":"https:\/\/coinengineer.net\/blog\/bitcoins-resilience-analysts-disagree-on-potential-for-deep-correction\/","og_site_name":"Coin Engineer","article_published_time":"2024-05-19T12:30:30+00:00","article_modified_time":"2024-05-19T08:18:01+00:00","og_image":[{"width":1260,"height":840,"url":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/04\/tempory-17.jpg","type":"image\/jpeg"}],"author":"Tanju Akb\u0131y\u0131k","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Tanju Akb\u0131y\u0131k","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/coinengineer.net\/blog\/bitcoins-resilience-analysts-disagree-on-potential-for-deep-correction\/","url":"https:\/\/coinengineer.net\/blog\/bitcoins-resilience-analysts-disagree-on-potential-for-deep-correction\/","name":"Bitcoin's Resilience: Analysts Disagree on Potential for Deep Correction - Coin Engineer","isPartOf":{"@id":"https:\/\/coinengineer.net\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/coinengineer.net\/blog\/bitcoins-resilience-analysts-disagree-on-potential-for-deep-correction\/#primaryimage"},"image":{"@id":"https:\/\/coinengineer.net\/blog\/bitcoins-resilience-analysts-disagree-on-potential-for-deep-correction\/#primaryimage"},"thumbnailUrl":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/04\/tempory-17.jpg","datePublished":"2024-05-19T12:30:30+00:00","dateModified":"2024-05-19T08:18:01+00:00","author":{"@id":"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/286f3a00b45c1661961e40ff0a1c7546"},"description":"Bitcoin analysts are divided on the potential for a deep correction despite strong support above $65K. Experts weigh in on historical trends and future projections.","breadcrumb":{"@id":"https:\/\/coinengineer.net\/blog\/bitcoins-resilience-analysts-disagree-on-potential-for-deep-correction\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/coinengineer.net\/blog\/bitcoins-resilience-analysts-disagree-on-potential-for-deep-correction\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/coinengineer.net\/blog\/bitcoins-resilience-analysts-disagree-on-potential-for-deep-correction\/#primaryimage","url":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/04\/tempory-17.jpg","contentUrl":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/04\/tempory-17.jpg","width":1260,"height":840,"caption":"Bitcoin cryptocurrencies and graph statistic background"},{"@type":"BreadcrumbList","@id":"https:\/\/coinengineer.net\/blog\/bitcoins-resilience-analysts-disagree-on-potential-for-deep-correction\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/coinengineer.net\/blog\/"},{"@type":"ListItem","position":2,"name":"Bitcoin&#8217;s Resilience: Analysts Disagree on Potential for Deep Correction"}]},{"@type":"WebSite","@id":"https:\/\/coinengineer.net\/blog\/#website","url":"https:\/\/coinengineer.net\/blog\/","name":"Coin Engineer","description":"Btc, Coins, Pre-Sale, DeFi, NFT","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/coinengineer.net\/blog\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/286f3a00b45c1661961e40ff0a1c7546","name":"Tanju Akb\u0131y\u0131k","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/a027c5acae1ab2c3649244f87d705ac7ee359dd7e3222b84cb1d32ba3a8d2e18?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/a027c5acae1ab2c3649244f87d705ac7ee359dd7e3222b84cb1d32ba3a8d2e18?s=96&d=mm&r=g","caption":"Tanju Akb\u0131y\u0131k"},"url":"https:\/\/coinengineer.net\/blog\/author\/cetanju\/"}]}},"_links":{"self":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts\/20807","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/comments?post=20807"}],"version-history":[{"count":3,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts\/20807\/revisions"}],"predecessor-version":[{"id":20810,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts\/20807\/revisions\/20810"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/media\/18666"}],"wp:attachment":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/media?parent=20807"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/categories?post=20807"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/tags?post=20807"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}