24/7 Cryptocurrency News

Expert Reveals When Bitcoin Will Break Out

Bitcoin is stuck in the $19K-20K range. However, expert reveals how Bitcoin will break out from this range and reach an all-time high.
Published by
Expert Reveals When Bitcoin Will Break Out

The crypto market is showing sluggish movement due to unfavorable macroeconomic conditions. Bitcoin, the largest cryptocurrency, in particular, is exhibiting extremely sluggish price movement. It is stuck in the $19K-$20K range for quite a while. It is currently trading at $19,082 and has fallen close to 0.5% in the last 24 hours. Florian Grummes, the managing director at Midas Touch Consulting, reveals how Bitcoin can break out of this range.

According to Grummes, Bitcoin will break the support level at $18K and test the price level at $10K. He also considers Bitcoin testing $6K a worst-case possibility. According to Grummes, the crypto market is currently in a liquidity crisis.

However, according to him, once Bitcoin reaches the bottom, it will reach a new all-time high.

Grummes correctly predicted the 2022 financial liquidity crisis due to unfavorable macroeconomics. He also correctly predicted that Gold will outperform crypto and the stock market in the crisis.

Advertisement

Bitcoin Break Out Movement Explained

The current global financial instability is tanking Bitcoin’s growth. The Fed is engaging in quantitative tightening to curb inflation levels. Therefore, the crypto market is going through a crypto winter. Grummes believes that the US Dollar will be the best investment bet during this crisis.

Grummes highlights that a crypto winter typically lasts for about 24 to 27 months. Since this crypto market is still one year into the winter, Grummes believes that a legitimate bull market is still about a year away. He still expects that the testing of the $6k price level is the worst-case-scenario. He believes that a bull market can be expected around the next Bitcoin halving in May of 2024.

Advertisement

Will Regulation Help Bitcoin

Many experts believe that regulatory clarity will help Bitcoin and Ethereum. It will increase institutional investment in cryptocurrencies. However, Grummes believes that central governments do not want to see Bitcoin succeed. He believes that the government will push Central Bank Digital Currencies at the expense of Bitcoin. Therefore, regulations may also hamper the growth of Bitcoin.

Advertisement

Share
Nidhish Shanker

Nidhish is a technology enthusiast, whose aim is to find elegant technical solutions to solve some of society's biggest issues. He is a firm believer of decentralization and wants to work on the mainstream adoption of Blockchain.

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • Bitcoin News

Crypto Market Rally: BTC, BNB, SOL, XRP, ETH Surge Amid Q4 Momentum

The crypto market is seeing renewed bullish momentum to begin the fourth quarter of this…

October 3, 2025
  • 24/7 Cryptocurrency News

Bitcoin ETFs Record $2.2B Weekly Inflows as BTC Price Surges Past $120K

Bitcoin ETF products recorded more than $2.2 billion in weekly inflows, building on the momentum…

October 3, 2025
  • 24/7 Cryptocurrency News

Nomura Eyes to Ripple Dominance in Crypto Trading in Japan as Demand Rises

Nomura Holdings, Japan's largest brokerage and investment banking group, eyes to ripple its dominance to…

October 3, 2025
  • 24/7 Cryptocurrency News

Sharps Technology Plans $100M Buyback to Boost Solana Treasury as SSK ETF Hits Record $382M AUM

Sharps Technology has announced a $100 million stock buyback plan, suggesting further investment plans in…

October 3, 2025
  • Bitcoin News

Will Bitcoin Reverse to $115K Max Pain Price amid Crypto Options Expiry Today?

Bitcoin surges above $120K following massive capital inflows into the crypto market in response to…

October 3, 2025
  • 24/7 Cryptocurrency News

Cardano Gets 100 Million User Exposure With Brave Integration, Whales Scoop 70M ADA

Cardano announced its integration with self-custody crypto wallet Brave, which gives native cryptocurrency ADA exposure…

October 3, 2025