Key Points
- Bitcoin faces a critical juncture after failing to break above $62,000.
- Analyst DonAlt warns of a potential drop below $60,000, signaling a bearish trend.
- The analyst predicts a possible decline of up to 30%, with sideways movement lasting for up to four months.
- Worst-case scenario sees Bitcoin falling to $40,000, while best-case scenario predicts a decline to $52,000.
- Market sentiment has turned fearful due to the recent price crash.
Bitcoin’s Downtrend
Crypto analyst DonAlt believes that Bitcoin is likely to continue its downward trend. He predicts that the price could fall below $60,000, breaking a key psychological level. This would trigger a further decline, potentially reaching 30%.
Sideways Movement and Targets
DonAlt expects a period of sideways movement following the initial drop. This could last for up to four months, with the price potentially hovering below $50,000. In the worst-case scenario, he sees Bitcoin falling to $40,000.
Market Sentiment
The recent Bitcoin crash has eroded investor sentiment. The Crypto Fear & Greed Index indicates that investors are fearful, which could negatively impact the price in the short term.
