Cryptocurrency Market Predicted as Severely Bearish, Experts Discuss Remaining Year's Destiny

In a recent analysis, renowned crypto analyst Doctor Profit has identified a bearish market trend in the crypto space. The analyst, known for his accurate market predictions, believes the Federal Reserve's (Fed) actions are a sign of losing control, leading to increased costs for governments, companies, and households.

This bearish sentiment is causing concern among traders and crypto investors, as the market is currently in a downturn. Doctor Profit compares the current market situation to 2024 and 2025, when yields crashed by 16% before the Fed's first cut and rose by over 5% into the next cut, respectively. The analyst believes the Fed rate cut announcement this September has led to a highly bearish market reaction.

However, Doctor Profit remains optimistic for the long-term. The analyst predicts a deep turning point in the crypto market in September, followed by a recovery in October. After bottoming in September, the analyst expects a bullish recovery and pump phase in Q4, with new all-time highs (ATHs) for Bitcoin (BTC) and Ethereum (ETH) in November.

The analyst advises traders to survive now and not get shaken out before the long-awaited parabolic pump. Following the recovery in October, Doctor Profit predicts Bitcoin (BTC) will pump, leading to a potential 10x - 50x increase in altcoin prices from the bottom in November.

Currently, the price of Bitcoin is trading at $110,000, short of the analyst's prediction of a potential fall to $90,000. Ethereum, on the other hand, is trading between $4,300 and $4,400, short of its recent ATH of $4,900.

The crypto community is actively debating how the market will play out for the rest of the year. Despite the uncertainty, analysts remain eager to see a bullish recovery and pump phase in Q4. The analyst's analogy of the Fed's actions leading to higher long-term borrowing costs, similar to a credit card company raising mortgage costs, adds weight to his predictions.

As the crypto market navigates through this bearish phase, traders and investors are advised to stay vigilant and make informed decisions based on reliable market analysis.