{"id":605575,"date":"2024-04-29T23:00:10","date_gmt":"2024-04-29T23:00:10","guid":{"rendered":"https:\/\/wncen.com\/?p=605575"},"modified":"2024-06-11T07:02:25","modified_gmt":"2024-06-11T07:02:25","slug":"bitcoin-price-prediction-to-42000","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-prediction-to-42000\/","title":{"rendered":"Bitcoin Price Prediction For May: Crypto Analyst Predicts Breakdown To $42,000"},"content":{"rendered":"

Crypto analyst DonAlt<\/span><\/a> has outlined a scenario where the Bitcoin price could drop to as low as the mid-$40,000. He further suggests that this price breakdown might be necessary for the continuation of <\/span>BTC’s bull run<\/span><\/a>.<\/span><\/p>\n

How Bitcoin Could Drop To As Low As $47,000<\/h2>\n

In an <\/span>update<\/span><\/a> to his Bitcoin analysis, DonAlt noted that Bitcoin had dropped back to around the $60,000 price range and could eventually break that support if it continues to be tested. From the accompanying chart he shared, the crypto analyst hinted that a <\/span>price breakout below the $60,000 range<\/span><\/a> would see Bitcoin drop to $52,000 or even further down to $47,000.\u00a0<\/span><\/p>\n

Related Reading: XRP Price Prediction: Analyst Says Prepare For 700% Jump To $4, Here\u2019s When<\/a><\/div>\n

\n\"Bitcoin<\/p>\n

Source: X<\/pre>\n
Meanwhile, he added that this might be something even the bulls want, so there could be a washout below $60,000, which would shake off weak hands. DonAlt also seems to support a price breakout below the support area, as he shared his belief that there is currently <\/span>complacency<\/span><\/a> in the market.\u00a0<\/span><\/p>\n
This is when crypto investors ignore the risks associated with Bitcoin, having seen price increases for an extended period. DonAlt said he would continue to hold this complacency belief until proven otherwise. For that to happen, he remarked that Bitcoin would need to <\/span>reclaim $68,000<\/span><\/a> or drop below $60,000 and reclaim that support level again.\u00a0<\/span><\/p>\n
Denis Baca, Head of Product at Zivoe Finance, also <\/span>recently suggested<\/span><\/a> that BTC could drop below $60,000 before it makes any parabolic move. This was a huge possibility, especially since Baca noted that the flagship crypto historically retests the support level of the 20-week SMA (small moving average) in May. He claimed this could cause Bitcoin to drop to $56,000.\u00a0<\/span><\/p>\n
BTC Bulls Are Getting Overwhelmed By The Bears<\/h2>\n
Bitcoin bulls look to be succumbing to the pressure from the bears. <\/span>Crypto analyst Ali Martinez<\/span><\/a> revealed in an <\/span>X post<\/span><\/a> that there has been a \u201cnoticeable dip in <\/span>Bitcoin whale activity<\/span><\/a>\u201d since March 14. This suggests the current market downtrend could be diminishing their confidence, as these whales are <\/span>always known to accumulate<\/span><\/a> more during every price dip. Martinez added that a \u201csurge in whale transactions could be the spark needed to boost\u201d BTC’S price.<\/span><\/p>\n
Related Reading: Brace For Price Impact: Dogecoin Whales Move Massive 456 Million DOGE To Exchanges<\/a><\/div>\n
Meanwhile, <\/span>CryptoQuant\u2019s<\/span><\/a> Head of Research, Julio Moreno, recently noted that Bitcoin\u2019s price has remained tepid due to the slowdown in demand. He alluded to the <\/span>Spot Bitcoin ETFs<\/span><\/a>, which have seen their <\/span>demand decline<\/span><\/a> this month. Like Martinez mentioned, Moreno stated that there needs to be a \u201cdemand growth\u201d for Bitcoin to experience another rally.\u00a0<\/span><\/p>\n
At the time of writing, Bitcoin is trading at around $62,300, down over 2% in the last 24 hours, according to <\/span>data<\/span><\/a> from CoinMarketCap.\u00a0<\/span><\/p>\n
\"Bitcoin<\/p>\n
BTC price trending at $62,200 | Source: BTCUSD on Tradingview.com<\/a><\/pre>\n
Featured image from Xataka, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Crypto analyst DonAlt has outlined a scenario where the Bitcoin price could drop to as low as the mid-$40,000. He further suggests that this price breakdown might be necessary for the continuation of BTC’s bull run. How Bitcoin Could Drop To As Low As $47,000 In an update to his Bitcoin analysis, DonAlt noted that Bitcoin had dropped back to around the $60,000 price range and could eventually break that support if it continues to be tested. From the accompanying chart he shared, the crypto analyst hinted that a price breakout below the $60,000 range would see Bitcoin drop to $52,000 or even further down to $47,000.\u00a0 Related Reading: XRP Price Prediction: Analyst Says Prepare For 700% Jump To $4, Here\u2019s When Source: X Meanwhile, he added that this might be something even the bulls want, so there could be a washout below $60,000, which would shake off weak hands. DonAlt also seems to support a price breakout below the support area, as he shared his belief that there is currently complacency in the market.\u00a0 This is when crypto investors ignore the risks associated with Bitcoin, having seen price increases for an extended period. DonAlt said he would continue to hold this complacency belief until proven otherwise. For that to happen, he remarked that Bitcoin would need to reclaim $68,000 or drop below $60,000 and reclaim that support level again.\u00a0 Denis Baca, Head of Product at Zivoe Finance, also recently suggested that BTC could drop below $60,000 before it makes any parabolic move. This was a huge possibility, especially since Baca noted that the flagship crypto historically retests the support level of the 20-week SMA (small moving average) in May. He claimed this could cause Bitcoin to drop to $56,000.\u00a0 BTC Bulls Are Getting Overwhelmed By The Bears Bitcoin bulls look to be succumbing to the pressure from the bears. Crypto analyst Ali Martinez revealed in an X post that there has been a \u201cnoticeable dip in Bitcoin whale activity\u201d since March 14. This suggests the current market downtrend could be diminishing their confidence, as these whales are always known to accumulate more during every price dip. Martinez added that a \u201csurge in whale transactions could be the spark needed to boost\u201d BTC’S price. Related Reading: Brace For Price Impact: Dogecoin Whales Move Massive 456 Million DOGE To Exchanges Meanwhile, CryptoQuant\u2019s Head of Research, Julio Moreno, recently noted that Bitcoin\u2019s price has remained tepid due to the slowdown in demand. He alluded to the Spot Bitcoin ETFs, which have seen their demand decline this month. Like Martinez mentioned, Moreno stated that there needs to be a \u201cdemand growth\u201d for Bitcoin to experience another rally.\u00a0 At the time of writing, Bitcoin is trading at around $62,300, down over 2% in the last 24 hours, according to data from CoinMarketCap.\u00a0 BTC price trending at $62,200 | Source: BTCUSD on Tradingview.com Featured image from Xataka, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":605632,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[167,428,656,679,1119,89185,1122,1144,78790,6664,26263,14690],"class_list":["post-605575","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-analyst","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-price","tag-btc","tag-btc-news","tag-btc-price","tag-btcusd","tag-btcusdt","tag-crypto","tag-crypto-analyst","tag-crypto-news"],"acf":[],"yoast_head":"\nBitcoin Price Prediction For May: Crypto Analyst Predicts Breakdown To $42,000<\/title>\n<meta name=\"description\" content=\"Crypto analyst DonAlt has outlined a scenario where the Bitcoin price could drop to as low as the mid-$40,000.\" \/>\n<meta name=\"robots\" content=\"index, follow, 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During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/wncen.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Price Prediction For May: Crypto Analyst Predicts Breakdown To $42,000","url":"http:\/\/wncen.com\/news\/bitcoin-price-prediction-to-42000\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-price-prediction-to-42000\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/04\/Bitcoin_aca4be.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/04\/Bitcoin_aca4be.jpeg?fit=500%2C333"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["analyst","bitcoin","bitcoin news","bitcoin price","btc","btc news","btc price","btcusd","btcusdt","crypto","crypto analyst","crypto news"],"dateCreated":"2024-04-29T23:00:10Z","datePublished":"2024-04-29T23:00:10Z","dateModified":"2024-06-11T07:02:25Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Price Prediction For May: Crypto Analyst Predicts Breakdown To $42,000\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-prediction-to-42000\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-prediction-to-42000\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/04\\\/Bitcoin_aca4be.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/04\\\/Bitcoin_aca4be.jpeg?fit=500%2C333\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"analyst\",\"bitcoin\",\"bitcoin news\",\"bitcoin price\",\"btc\",\"btc news\",\"btc price\",\"btcusd\",\"btcusdt\",\"crypto\",\"crypto analyst\",\"crypto news\"],\"dateCreated\":\"2024-04-29T23:00:10Z\",\"datePublished\":\"2024-04-29T23:00:10Z\",\"dateModified\":\"2024-06-11T07:02:25Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/04\/Bitcoin_aca4be.jpeg?fit=500%2C333","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/605575"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=605575"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/605575\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/605632"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=605575"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=605575"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=605575"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}