In his latest market update, the analyst highlighted a growing risk of a severe market shock, describing a potential black swan scenario for Bitcoin.
Potential Market Drop Risk
The analyst warned of the possibility of Bitcoin dropping to the $60,000–$70,000 range. He also indicated that under such conditions, most altcoins could lose between 50% and 80% of their current value.
Volatility Expectations
According to the analyst, the coming days could prove decisive as heightened volatility is expected in the market. He emphasized that this week’s market action might set the tone for the rest of the quarter.
Potential Market Recovery
While his short-term outlook remains bearish, the analyst hinted at a silver lining. If the deep correction he anticipates occurs, it could lead to a strong recovery phase that paves the way for an extended bullish cycle once the market stabilizes.
The analysis of the current cryptocurrency market situation highlights the importance of monitoring developments, especially for investors, in light of potential heightened volatility.
