Bitcoin’s price crash from $97,000 in late February surprised most crypto market participants but not this analyst. The crypto analyst known as Doctor Profit, who previously warned of a correction when Bitcoin was approaching $97,000, recently released a new technical outlook that dissuades a bullish trajectory in the short term. In a breakdown shared on the social media platform X, Doctor Profit noted that the breakdown isn’t complete yet. This outlook comes from a former detailed analysis in which the analyst highlighted various Bitcoin price movements to watch out for, all of which have come to pass. Doctor Profit Says Bitcoin Market Dump Is Just Beginning Bitcoin has experienced ups and downs in the past few days with incredibly volatile movements. These ups and downs saw the Bitcoin price fall below $75,000 at the beginning of the week before spending the past four days on a recovery path towards $80,000. Amidst the price volatility, crypto analyst Doctor Profit clarified that he expects the current downward move in Bitcoin’s price to extend further. Related Reading: Crypto Analyst Warns Of Volume Drop That Could Trigger 60% Bitcoin Price Crash To $49,000 In a recent post on social media platform X, the analyst described the correction as a “market massacre” that is expected to continue, stating that the party just started. He revealed that he had placed his first buy orders within the $58,000 to $68,000 range, suggesting that the Bitcoin price would keep falling until it reaches this region. Rather than seeing the recent decline as a setback, the price action is a calculated part of the broader strategy which the analyst laid out in an earlier detailed analysis. Doctor Profit’s analysis is based on the M2 money supply, a macroeconomic metric he believes is widely misunderstood within the crypto space. Many traders have recently cited the uptick in M2 as a bullish signal for Bitcoin, assuming that more liquidity means an immediate surge in prices. However, the analyst stressed that timing is everything. He noted that Bitcoin tends to front-run traditional markets when responding to M2 increases, but even then, the reaction is not instantaneous. What To Expect With BTC He reminds his followers that in July 2024, he predicted a 50bps rate cut, which was considered highly unlikely at the time. Once that cut materialized in September, around the same time Bitcoin was hovering near $50,000, he labeled it extremely bullish and called for a major rally. As it turned out, the M2 money supply began expanding in February 2025, which aligned with his forecast. Yet, he cautions that while M2 is now climbing, its effect on Bitcoin will play out gradually. Related Reading: Bitcoin Price Mirrors Global M2 As Crypto Analyst Reveals May Timeline For “Blast Off” Looking at Bitcoin’s price behavior on the charts, Doctor Profit shifted his focus to the $70,000 to $74,000 range. He believes this range could either serve as a springboard for a fresh upward rally if a strong daily close occurs above the “Golden Line” around the weekly EMA50 or as a signal for a deeper downside if the price breaks beneath it. Should a more dramatic breakdown occur, the analyst advised scaling back and waiting for even lower entries around the $50,000 to $60,000 zone. Doctor Profit predicted that the bull run will not resume until sometime around May or June, with upside targets of $120,000 to $140,000. Bitcoin has managed to push above $81,000 after Donald Trump announced a 90-day pause on his ground-breaking tarriffs. At the time of writing, Bitcoin is trading at $82,000, up by 7% in the past 24 hours. Featured image from Unsplash, chart from Tradingview.com
XRP Price Prediction For April 19, 2025
