Bitcoin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/analyst-foresees-bitcoins-price-drop" data-wpel-link="internal">Analyst Foresees Bitcoin’s Price Drop</a><br></p>
<p style="text-align: justify">DonAlt, a prominent cryptocurrency expert, has recently forecasted a downturn for <a href="https://en.bitcoinhaber.net/bitcoin-faces-selling-pressure" data-wpel-link="internal">Bitcoin</a> (BTC). Speaking on the Technical Roundup YouTube channel, the analyst voiced concerns about Bitcoin’s ability to maintain a crucial psychological support level, warning that it could potentially slip below $60,000.</p> 
<h2 id="what-are-the-worst-case-scenarios">What Are the Worst-Case Scenarios?</h2> 
<p style="text-align: justify">According to DonAlt, a breakdown in Bitcoin’s price within the $60,000 to $73,800 range might trigger an extended downtrend. He suggested that such a decline could lead to at least 120 days of price stagnation, complicating Bitcoin’s chances of regaining its bullish momentum.</p> 
<p style="text-align: justify">In his worst-case scenario, DonAlt predicted that Bitcoin could plummet by up to 35% from its current levels, potentially reaching the mid-$40,000 range, between $44,000 and $40,000. He emphasized that this represents the maximum drop he anticipates and does not expect Bitcoin to fall further below this bracket.</p> 
<h2 id="what-if-the-decline-is-less-severe">What If the Decline is Less Severe?</h2> 
<p style="text-align: justify">Alongside his most severe projections, DonAlt offered a less drastic scenario where Bitcoin might find support around $52,000. This would still mark a significant decline from current levels but would prevent the more extreme drop suggested in his worst-case scenario, leading to a period of sideways trading.</p> 
<h2 id="key-takeaways-for-investors">Key Takeaways for Investors</h2> 
<ul> 
 <li>A break below $60,000 may result in a prolonged downtrend.</li> 
 <li>Bitcoin could potentially fall to the mid-$40,000 range.</li> 
 <li>A less severe decline might see support around $52,000.</li> 
 <li>A weekly close above $63,000 could indicate a positive trend, albeit unlikely.</li> 
</ul> 
<p style="text-align: justify">Despite a generally bearish outlook, DonAlt acknowledged a slim 10% chance of a bullish scenario where Bitcoin closes above $63,000 weekly, signaling a positive trend. However, he advised caution, urging <a href="https://finance.coin-turk.com/" rel="nofollow noopener" target="_blank" data-wpel-link="exclude">investors</a> not to be overly optimistic at this stage.</p> 
<p style="text-align: justify">Currently, BTC is trading around $61,500, marking a 1.4% increase in the past 24 hours. However, <a href="https://newslinker.co/category/ai/" target="_blank" rel="noopener nofollow" data-wpel-link="exclude">data reveals</a> that Bitcoin has experienced a significant 4.80% drop over the last week.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/analyst-foresees-bitcoins-price-drop" data-wpel-link="internal">Analyst Foresees Bitcoin’s Price Drop</a></h5>

Analyst Foresees Bitcoin’s Price Drop

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