Bitcoin Analyst Remains Bearish Amidst Lack of New Data

Lack of new data on Bitcoin is leaving analysts adrift, contributing to the rise of bearish vs. bullish sentiments. While many struggle to predict market movements following last week’s significant liquidation event, one prominent crypto analyst remains steadfast in his bearish outlook. 30-year veteran Doctor Profit, known for his accurate predictions, believes that Bitcoin’s mid and long-term trajectory is fundamentally bearish. Although some analysts speculate on potential short-term rallies (dead cat bounces), Doctor Profit emphasizes the lack of fresh data makes it nearly impossible to make concrete forecasts. The analyst highlights this sentiment in his Twitter post where he states: ‘Probably I’m the only account as well giving a clear path at this point. The problem I currently face is the tiny amount of fresh data available.’ This stance further reflects the challenges facing analysts, especially as they lack tangible insights to predict market direction.