Bitcoin’s been on a rollercoaster ride lately, and a crypto analyst is predicting a big drop.
A Bearish Pattern Emerges
Crypto analyst Alan Santana is sounding the alarm about Bitcoin’s price. He’s seeing a pattern on the charts that suggests a crash is coming. This pattern, called a descending triangle, is a bearish signal.
What does this mean? Basically, it means Bitcoin’s price has been making lower highs over the past six months, and that’s a sign of a downward trend.
How Low Could Bitcoin Go?
Santana thinks Bitcoin could fall below $49,000. He’s even predicting it could drop to the $40,000 to $43,000 range.
But there’s a silver lining: If Bitcoin can break above $70,000, it could signal a bullish turnaround.
A Bit of Perspective
While Bitcoin is still trading above $60,000, it’s important to remember that it’s down from its all-time high of over $73,000.
The analyst thinks a drop below $40,000 could be a good thing for Bitcoin in the long run. He believes it would set the stage for a significant recovery later on.
It’s important to remember that this is just one analyst’s opinion. The crypto market is volatile, and anything can happen. If you’re investing in Bitcoin, make sure you understand the risks. /p>
