Bitcoin

Threshold

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/analyst-warns-of-bitcoins-potential-collapse/" data-wpel-link="internal">Analyst Warns of Bitcoin’s Potential Collapse</a> 
Bitcoin’s (BTC) 2022 low prediction made DonAlt a renowned cryptocurrency analyst. He recently warned about Bitcoin’s current state to his 60,100 YouTube subscribers, emphasizing BTC’s potential significant collapse. 
<h2 style="text-align: justify" id="strong-bitcoin-reaches-critical-threshold-strong">Bitcoin Reaches Critical Threshold</h2> 
DonAlt highlighted the risk of Bitcoin losing its upward momentum in his latest video update. He expects a capitulation event if BTC bulls fail to defend the crucial $63,000 support level. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-364479" src="https://coin-turk.com/wp-content/uploads/2024/06/Bitcoin-BTC-Analiz-1.png" alt="" width="1203" height="586"> 
Capitulation here means a rapid and sharp price drop, which could lead to extreme instability in the <a href="https://en.coin-turk.com/south-koreas-growing-interest-in-crypto-friendly-policies/" data-wpel-link="internal">cryptocurrency market</a>. 
The analyst expressed his long-standing belief in the $60,000 support level, noting that it has been tested multiple times. However, he now believes repeated tests could weaken this support. Commenting on the current situation, DonAlt said, “The $63,000 level is the last line of defense before retesting $60,000, and honestly, I think $60,000 could break. If we surpass $63,000, I think $60,000 will be out of play.” 
<h2 style="text-align: justify" id="strong-explaining-the-importance-of-63-000-strong">Explaining the Importance of $63,000</h2> 
The analyst also shared the potential consequences of breaking the critical $63,000 support. He suggested a brief recovery period with temporary optimism might occur, but a massive collapse could follow in the subsequent days or weeks. This scenario reflects the critical nature of the $63,000 support level, which DonAlt described as “make or break” for Bitcoin. 
DonAlt previously emphasized that maintaining the $63,000 support could lead to a Bitcoin rally, potentially reaching all-time highs. Conversely, Bitcoin trading around $62,400 has raised concerns among <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a> and traders. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/analyst-warns-of-bitcoins-potential-collapse/" data-wpel-link="internal">Analyst Warns of Bitcoin’s Potential Collapse</a></h5>

Analyst Warns of Bitcoin’s Potential Collapse

Съдържание

COINTURK NEWS

Други статии, публикувани на 24.06.2024 г.

Bybit exchange implements Apple Pay for checkout

BlackRock and Franklin Templeton Lead the Over 1,000% Surge in Tokenized US Treasuries

MoonBag Crypto: The First Crypto To Rule The Market During Presale, Surpassing Solana and Bitcoin...

Bitcoin Investment Outflows Surge

Bitcoin Value Plummets Following Mt. Gox Repayment News, Claims Market Analyst

Will the Fall in Bitcoin Continue? Successful Analyst Shared His Short-Term BTC Expectations, War...

Присъединете се към нашия безплатен бюлетин за ежедневни крипто актуализации!