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<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/analyst-predicts-bitcoins-potential-decline/" data-wpel-link="internal">Analyst Predicts Bitcoin’s Potential Decline</a><br></p>
<p style="text-align: justify"><strong>DonAlt</strong>, a leading cryptocurrency analyst and trader, recently predicted a decline for <a href="https://en.coin-turk.com/bitcoin-etf-issuers-accumulate-billions-in-btc-shortly-after-launch/" data-wpel-link="internal">Bitcoin</a> (BTC). Speaking to subscribers on the Technical Roundup YouTube channel, the analyst expressed concerns that Bitcoin might not stay above a critical psychological support level and could potentially fall below $60,000.</p> 
<h2 style="text-align: justify" id="strong-shared-the-most-negative-and-negative-scenarios-for-bitcoin-strong"><strong>Shared the Most Negative and Negative Scenarios for Bitcoin</strong></h2> 
<p style="text-align: justify">According to DonAlt, a downward break in Bitcoin’s price range between $60,000 and $73,800 could lead to a prolonged downtrend. He added that such a break could result in at least 120 days of price stagnation, making it difficult for the largest cryptocurrency to regain momentum.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-365959" src="https://coin-turk.com/wp-content/uploads/2024/06/Bitcoin-BTC-Kripto-Para-Analiz.png" alt="" width="2954" height="1566"></p> 
<p style="text-align: justify">The analyst outlined a worst-case scenario where Bitcoin could drop by up to 35% from its current price level. In this scenario, Bitcoin could fall to the mid-$40,000 range, specifically between $44,000 and $40,000. This represents the maximum decline he foresees, and he emphasized that he does not expect the largest cryptocurrency to fall below this range.</p> 
<p style="text-align: justify">In addition to the worst-case scenario, DonAlt presented a less severe decline scenario. In a more moderate decline, Bitcoin could find support around $52,000 and then enter a sideways trading period. While this still represents a significant drop from current levels, it avoids the more dramatic declines suggested in the worst-case scenario.</p> 
<h2 style="text-align: justify" id="strong-if-price-exceeds-the-63-000-threshold-things-change-strong"><strong>If Price Exceeds the $63,000 Threshold, Things Change</strong></h2> 
<p style="text-align: justify">Despite the bearish outlook, DonAlt also presented a potential bullish scenario for Bitcoin. He noted that a weekly close above the $63,000 level could signal a positive trend, although he emphasized that this scenario is unlikely. The analyst estimated a 10% chance for this scenario. As a result, he advised caution and suggested that <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a> should not be overly optimistic yet.</p> 
<p style="text-align: justify">At the time of writing, <strong>BTC</strong> is trading around $61,500, up 1.4% in the last 24 hours. Data shows that the largest cryptocurrency has dropped by a significant 4.80% over the past 7 days.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/analyst-predicts-bitcoins-potential-decline/" data-wpel-link="internal">Analyst Predicts Bitcoin’s Potential Decline</a></h5>

Analyst Predicts Bitcoin’s Potential Decline

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