George Savakis, with the help of the analyst Dimitris Tsantoy, a member of Elliot Wave trader community, are predicting a correction down to $20.000 - $23.000, while claiming that as long as Bitcoin is below $35.000, it's extremely unlikely to see a market recovery.
What was stated by George Savakis who predicted a bitcoin price correction of up to $20k-$23k was true. Especially now that bitcoin is traded at a price range of $22k-$23k after a few months ago it fell to a price level of $17k. Therefore even though the bitcoin price is currently stuck in the $23k area, it still seems difficult to see a market recovery in the near term.