Bitcoin recently crashed, leaving many wondering if we’ve hit rock bottom. But one expert thinks we’re far from it.
A Deeper Dive Predicted
A CMT-certified analyst, Tony Severino, predicts Bitcoin will fall much further, potentially bottoming out between $38,000 and $42,000. He’s using Elliott Wave theory to make this prediction.
Understanding the Wave Theory
Severino’s analysis shows Bitcoin completing a five-wave upward movement, peaking near $85,000. He believes we’re now in a corrective phase (an ABC pattern).
- Wave A: This is already underway, and he expects it to end around $62,000-$65,000 by June 2025.
- Wave B: A brief bounce is expected after Wave A concludes.
- Wave C: This is the big one – the final leg down to the $38,000-$42,000 bottom, predicted for April 2026.
This aligns with previous market corrections and typical Bitcoin cycles.
Bear Market and the Death Cross
Severino’s analysis confirms we’re in a bear market, a prediction consistent with Bitcoin’s four-year cycle. Adding to the bearish sentiment, a “Death Cross” has formed on Bitcoin’s chart. This happens when the 50-day moving average crosses below the 200-day moving average – a classic bearish signal. This reinforces the possibility of further price drops.
In short, while Bitcoin’s recent drop to around $74,000 was significant, this analyst believes it’s just the beginning of a larger correction. He’s predicting a much lower bottom in the coming years.
