Bitcoin Uptrend Nears End, Warns Chinese Miner

Jiang Zhuoer, a prominent Chinese cryptocurrency miner and founder of BTC.TOP, has shared his current outlook on Bitcoin. According to him, the current uptrend in Bitcoin has not yet reached its end, but a significant correction in the market may be imminent.

Zhuoer predicts that Bitcoin could rise to the $83,000-$84,000 range before experiencing a pullback. Notably, he stated that if the $82,300 level serves as the pre-correction peak, the subsequent correction will be prolonged and followed by frustrating sideways trading with wide price fluctuations.

Zhuoer's base scenario is for Bitcoin to first test the $83,000-$84,000 region and then retreat to around $72,000. This prediction aligns with his previous announcement that he closed his Bitcoin position at around $82,050 due to considering the $83,000-$84,000 region a significant resistance area.