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

Citigroup Increases Price Targets for Bitcoin and Ethereum

Citigroup has raised its 12-month price targets for Bitcoin to $113,000 and for Ethereum to $3,028, citing stronger activity in crypto markets and ETF inflows.

user avatarGustavo Mendoza

TopNod Introduces Axil Pot APT for Enhanced Onchain Yield Management

TopNod has launched Axil Pot APT, a new onchain yield vault that allows users to earn an estimated 8% APY while maintaining instant liquidity.

user avatarRajesh Kumar

MEXC Expands Guardian Fund with Additional 1,000 BTC

MEXC has added another 1,000 BTC to its Guardian Fund, marking the second major allocation this year.

user avatarMiguel Rodriguez

HANetf and HSBC Launch First GBP EUR-Hedged Bitcoin Products

HANetf and HSBC have announced the launch of the first GBP EUR-hedged Bitcoin products, marking a significant development in the digital asset ecosystem.

user avatarLuis Flores

Goldman Sachs Integrates $100 Billion Treasury Fund with Crypto Institutional Frameworks

Goldman Sachs has announced the integration of its $100 billion Treasury Fund with crypto institutional frameworks, marking a significant development in the digital asset ecosystem.

user avatarArif Mukhtar

UK Financial Conduct Authority Opens Crypto Authorisation Regime

The UK Financial Conduct Authority has formally opened its Crypto Authorisation Regime, marking a significant development in the digital asset ecosystem.

user avatarMaria Gutierrez

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.