Analyst Warns Bitcoin (BTC) Price Could Drop Another 20%
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Bitcoin experienced a 20% price drop, briefly losing the $50,000 support level, followed by a broader market crash. Analysts fear more declines despite a temporary recovery.
Crypto analyst Altcoin Sherpa suggests $49,000 could be a bottom, but warns lower levels like $40,000-$47,000 might be tested. He draws parallels to Bitcoin’s 2021 performance.
Rekt Capital notes it’s the cycle’s deepest retrace yet. Crypto Bullet and Crypto Jelle see potential recovery patterns similar to past crashes, but caution remains.
Lastly, Ali Martinez emphasizes the importance of reclaiming $54,000 to avoid deeper falls, while highlighting a possible retest of $67,000.
Source: www.newsbtc.com ↗
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