Analysts Predict Further Bitcoin Decline

user avatar

by Giorgi Kostiuk

2 years ago

Bitcoin's price has sharply fallen, raising concerns among traders and analysts. Let's examine the current situation and forecasts for the near future.

Current Bitcoin Situation

Today, Bitcoin's price dropped to $90,300, marking an unexpected change after a relatively calm weekend. Previously priced at $108,000, Bitcoin now shows a series of red candles, causing concern among traders. However, it is currently hovering around $90,800.

Impact on Altcoins

Altcoins are also under pressure due to Bitcoin's decline. Many are facing up to 10% losses, creating a tough situation for cryptocurrencies that raced towards their low levels from last year.

Analysts' Predictions

Renowned analyst Peter Brandt predicted a close below $91,500 might lead to a drop to $74,097. If Bitcoin fails to hold current levels, new lows could be reached, potentially causing a further decline to $85,000. This scenario is possible amid negative U.S. market openings and the recent bounce's weakness noted by analyst Phoenix.

The drop in Bitcoin prices raises concerns for many investors and traders. With expected economic data and changes in U.S. politics, the situation may become more complicated.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Chainlink Launches 24/7 Pricing Service for Onchain Assets

Chainlink has launched a new service that provides a continuous price series for assets, solving the issue of unreliable pricing during off-hours for onchain applications.

user avatarMaya Lundqvist

Securitize Announces Integration with Stellar Network

Securitize announced plans to integrate the Stellar network into its infrastructure for institutional asset managers, enhancing the management of tokenized financial assets.

user avatarKaterina Papadopoulou

Lagarde's Criticism of Bitcoin and Its Implications

Christine Lagarde has been a vocal critic of Bitcoin, emphasizing the need for secure and liquid central bank reserves.

user avatarLeo van der Veen

ECB Advances Digital Finance Initiatives Under Lagarde

Under Christine Lagarde's leadership, the European Central Bank has made notable strides in digital finance, including work on a digital euro and the introduction of Pontes for tokenized asset transactions.

user avatarAisha Farooq

Selection Process for Lagarde's Successor at ECB

The European Central Bank has outlined the process for selecting Christine Lagarde's successor, which will be conducted under Article 283 of the Treaty on the Functioning of the European Union.

user avatarLeo van der Veen

Christine Lagarde Confirms Departure Date from ECB

Christine Lagarde has confirmed her resignation as president of the European Central Bank, effective February 7, 2027.

user avatarLi Weicheng

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.