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

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