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

Solana Foundation Plans Custom Rings for Institutions

The Solana Foundation is working on Custom Rings for institutions, expected to provide configurable privacy and auditor access.

user avatarDavid Robinson

Helius Introduces Privacy Rings on Solana Mainnet

Helius has launched Privacy Rings on the Solana mainnet, enabling confidential asset transfers while maintaining transparency.

user avatarMaria Gutierrez

Aave's Governance to Review Proposed Changes

Aave Governance is set to review TokenLogic's proposal regarding reserve factors and its implications for liquidity and supplier incentives.

user avatarJacob Williams

TokenLogic Proposes Changes to Aave's Reserve Factors

TokenLogic has proposed adjustments to Aave's reserve factors across 54 reserves, potentially increasing annual revenue by $35 million.

user avatarAndrew Smith

Apex Group Joins Hedera Council to Enhance Governance in Digital Assets

Apex Group has joined the Hedera Council to enhance governance in digital assets and explore tokenization initiatives.

user avatarZainab Kamara

American Securities Association Raises Concerns for Retail Investors in CFTC Case

The American Securities Association (ASA) has filed a motion in federal court emphasizing the potential harm to retail investors in the ongoing legal battle over single-stock perpetuals.

user avatarSon Min-ho

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.