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The cryptocurrency market, known for its volatility, faces a divergence in sentiment as Bitcoin (BTC) investors observe rising optimism. However, some Bitcoin short traders warn of an impending major bear market that could reverse the positive sentiment. Notably, crypto analyst Xanrox, in his analysis shared on TradingView, predicted that Bitcoin could drop by 50%. His analysis points to a short-term downtrend and a “false bull flag” formation since the all-time high of $73,800 recorded in March.
Xanrox: “A Major Bear Market Is Approaching for Bitcoin”
Xanrox evaluated Bitcoin’s recent price actions and suggested it might be the right time to short BTC. In his technical analysis, he highlighted a “false bull flag.” A bull flag indicates that a brief consolidation will lead to continued upward price movement. However, Xanrox claims this particular flag is misleading and that the downtrend will deepen.
According to Xanrox, Bitcoin historically loses 80% to 90% of its value every three years, which he argues is not a natural market movement but rather the result of large-scale manipulation. His claim of a manipulative group, which he calls the “Cabal,” is noteworthy. According to the analyst, this group is composed of powerful institutions, including banks, governments, and global organizations such as the World Economic Forum and the World Health Organization, which negatively influence market movements.
Beyond just financial manipulation, Xanrox also alleges that human potential is being suppressed by these same forces. He points to natural abilities such as telekinesis (moving objects with the mind) and telepathy (communicating across distances without physical interaction) as examples of talents being stifled by this global cabal. The analyst promises further insights on these topics shortly.
Expert Trader’s Prediction: Record Levels by 2025!
While Xanrox predicts a massive bear market for Bitcoin, some traders believe the opposite. One notable expert has forecast that Bitcoin will reach record levels by 2025. According to this trader, the upcoming months of volatility are merely part of the market’s natural cycle, and the long-term outlook for Bitcoin remains overwhelmingly positive. He points to historical patterns, which show that after each significant correction, Bitcoin tends to experience explosive growth in the following years. By 2025, this expert believes that Bitcoin could surpass its previous all-time highs, setting new records as institutional adoption grows and more retail investors flock to the cryptocurrency space.
The Fed’s Interest Rate Cuts and Their Impact on Crypto
Xanrox also shared his perspective on the Federal Reserve’s upcoming interest rate decision, expected on September 18. He predicts that the rate cut will be bearish news for both the stock and crypto markets. This view contrasts with many traditional finance experts, who see rate cuts as beneficial for risk-on assets like Bitcoin.
On the other side of the debate, Zach Pandall, a researcher from Grayscale, argues that rate cuts could indeed have a positive effect on Bitcoin. Pandall expects the Federal Reserve to cut rates by 25 basis points, which he believes will provide a favorable boost for Bitcoin’s price. He recalls the aggressive rate hikes in 2022, which triggered a significant bear market for Bitcoin. However, as rate hikes slowed in 2023, Bitcoin started a strong bull run. This historical context suggests that a rate cut in 2024 could potentially set the stage for another Bitcoin bull market.
Bitcoin at $56,683: Are the Worst Days Behind Us?
While Xanrox warns of an imminent bear market, several other analysts maintain a more bullish outlook for Bitcoin. CrypNuevo, The ForexX Mindset, Credible Crypto, and Cryptorphic disagree with Xanrox’s bleak predictions and argue that the market is heading toward a more favorable period. These analysts are optimistic that the upcoming rate cuts could, in fact, help the broader crypto market recover and continue its upward momentum.
