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Bitcoin Price To Crash Hard To $60K! Experts Warn of Major Crash
In a stunning turn of events, prominent crypto analysts have sounded the alarm bells warning of an impending crash for the world’s largest cryptocurrency by market capitalization. Bitcoin, which has been struggling to find its footing in recent weeks, could be on the cusp of a catastrophic drop.
According to leading experts, including Ali Martinez and Mark Newton, if Bitcoin were to fall below the critical $95K mark, it would trigger a devastating crash, potentially sending prices plummeting as low as $60K. This dire prediction is fueled by an unprecedented surge in traders moving their coins to exchanges, signaling that many are bracing themselves for further declines.
Market observers point out that over the past week alone, a staggering 33,000 Bitcoins worth approximately $3.23 billion were moved to exchanges, hinting at a mass exodus of investors from the market. This unprecedented sell-off could be an early indication of a larger correction in the making.
Another prominent figure, Peter Brant, has also weighed in on the matter, warning that if Bitcoin breaks below a key support level and then fails to recover, it would mark a repeat of the catastrophic crash seen in 2018. Brant’s ominous forecast comes as investors are already bracing themselves for the worst, with many expecting a similar correction to occur.
Despite these dire warnings, some market watchers still hold onto hope that Bitcoin may defy expectations and surge higher. If the cryptocurrency is able to rise above the critical $97,300 support level and maintain its position at or above $100,000, it would likely indicate that the worst has passed and a new rally is on the horizon.
Indeed, this week’s Fear and Greed Index, which measures market sentiment, remains stuck in the “Greed” zone at 74, suggesting that some investors remain cautiously optimistic about Bitcoin’s prospects.
Source: coinpedia.org
