{"id":627218,"date":"2024-07-02T04:30:42","date_gmt":"2024-07-02T04:30:42","guid":{"rendered":"https:\/\/wncen.com\/?p=627218"},"modified":"2024-07-02T02:53:03","modified_gmt":"2024-07-02T02:53:03","slug":"45-drop-for-bitcoin-crypto-analyst","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin\/45-drop-for-bitcoin-crypto-analyst\/","title":{"rendered":"Crypto Analyst Predicts 45% Drop For Bitcoin, But Says It Won\u2019t Go Below This Level"},"content":{"rendered":"<p class=\"p2\"><a href=\"https:\/\/wncen.com\/news\/bitcoin-weekend-trading-takes-a-siesta-volumes-plunge-to-record-lows\/\">Bitcoin has been in a notable state of flux <\/a>recently after recovering from the crash below $60,000 and establishing support above $61,000. However, with the pioneer cryptocurrency failing to completely beat important resistance points such as $63,500, bearish sentiment continues to dominate the market. Amid this, one crypto analyst has predicted that the Bitcoin crash is far from over, <a href=\"https:\/\/wncen.com\/news\/bitcoin\/14000-btc-transferred-to-exchanges-in-four-days-worrying-trend-for-bitcoin-price\/\">forecasting much lower figures<\/a> than anticipated.<\/p>\n<h2 class=\"p2\">Crypto Analyst Calls Out Possible Bitcoin Crash To $35,000<\/h2>\n<p class=\"p2\">In a new analysis of the Bitcoin price, crypto analyst Alan Santana has <a href=\"https:\/\/www.tradingview.com\/chart\/BTCUSDT\/iBhYrDWS-URGENT-Bitcoin-Updated-Correction-Numbers-Maximum-Pain-Point\/\" rel=\"nofollow\">predicted<\/a> a possible price crash in the near future. The analysis, which was posted on the TradingView website, takes into account the past performances of the cryptocurrency, identifying various points such as a maximum pain point.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/sec-serves-fresh-lawsuit-to-metamask-developer-consensys-whats-the-problem-this-time\/\">SEC Serves Fresh Lawsuit To Metamask Developer Consensys \u2013 What\u2019s The Problem This Time?<\/a><\/div>\n<p class=\"p2\">Santana points out that for Bitcoin, the maximum pain point currently lies between the 0.618 and 0.786 Fibonacci retracement levels. This means that <a href=\"https:\/\/wncen.com\/news\/bitcoin-remains-bullish-as-new-btc-addresses-surge-to-new-2-month-highs\/\">the Bitcoin price<\/a> has far from bottomed, going by this analysis. Since the Fibonacci retracement levels are still so low currently.<\/p>\n<p class=\"p2\">Based on this, the crypto analyst believes that the price will continue to crash with the maximum pain point sitting around $34,900 and $42,855. Going by this prediction, it means that the Bitcoin price could crash as high as 45% from its current level if it does play out.<\/p>\n<p class=\"p2\">Interestingly, despite expecting such a massive price crash, the crypto analyst does not believe that the price will fall further. In fact, he points out that <a href=\"https:\/\/wncen.com\/news\/bitcoin\/bitcoin-records-surge-in-retail-investors-is-a-price-rebound-on\/\">the Bitcoin price<\/a> will never fall below the $30,000 price level ever again.<\/p>\n<p class=\"p2\">Closing the analysis with some words for investors and traders, the crypto analyst advises, \u201cUpdate your numbers, update your trades, update everything. These are the new numbers.\u201d<\/p>\n<p class=\"p2\">Not Everyone Is Bearish<\/p>\n<p class=\"p2\">While Alan Santana\u2019s prediction is very bearish for the Bitcoin price, not all analysts have gone the negative route. In fact, with the 20% <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-price-spikes-63500\/\">BTC price crash<\/a>, some crypto analysts believe that the worst is already over and that the pioneer cryptocurrency will see a bounce soon.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/xrp-price-on-the-verge-of-breaking-falling-wedge-that-could-lead-to-4-increase\/\">XRP Price On The Verge Of Breaking Falling Wedge That Could Lead To 4% Increase<\/a><\/div>\n<p class=\"p2\">One of the crypto analysts who predicts a bounce in the price is Doctor Bitcoin, who also <a href=\"https:\/\/www.tradingview.com\/chart\/BTCUSDT\/GureCqxV-Time-for-bulls-to-buy-BTCUSDT-with-harmonic-pattern\/\" rel=\"nofollow\">posted<\/a> his analysis on the TradingView website. According to the crypto analyst, this is actually the time buy BTC due to a harmonic pattern that has appeared in the <a href=\"https:\/\/wncen.com\/news\/bitcoin\/bitcoin-price-blasts-past-63000-top-3-reasons\/\">chart<\/a>, which points to a bullish reversal pattern. For the target, Doctor Bitcoin has predicted a possible rise to $85,000, which would be around a 35% move from the current price point.<\/p>\n<p class=\"p2\">At the time of writing, the Bitcoin price is trending at $62,800, showing a 2.26% increase in the last 24 hours.<\/p>\n<figure style=\"width: 3286px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium\" src=\"https:\/\/www.tradingview.com\/x\/2GrD0n67\/\" alt=\"Bitcoin price chart from Tradingview.com\" width=\"3286\" height=\"1576\"><figcaption class=\"wp-caption-text\">BTC price retraces from surge | Source: <a href=\"http:\/\/Tradingview.com\" rel=\"nofollow\">BTCUSD on Tradingview.com<\/a><\/figcaption><\/figure>\n<div class=\"disclaimer-shortcode\">Featured image created with Dall.E, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin has been in a notable state of flux recently after recovering from the crash below $60,000 and establishing support above $61,000. However, with the pioneer cryptocurrency failing to completely beat important resistance points such as $63,500, bearish sentiment continues to dominate the market. Amid this, one crypto analyst has predicted that the Bitcoin crash is far from over, forecasting much lower figures than anticipated. Crypto Analyst Calls Out Possible Bitcoin Crash To $35,000 In a new analysis of the Bitcoin price, crypto analyst Alan Santana has predicted a possible price crash in the near future. The analysis, which was posted on the TradingView website, takes into account the past performances of the cryptocurrency, identifying various points such as a maximum pain point. Related Reading: SEC Serves Fresh Lawsuit To Metamask Developer Consensys \u2013 What\u2019s The Problem This Time? Santana points out that for Bitcoin, the maximum pain point currently lies between the 0.618 and 0.786 Fibonacci retracement levels. This means that the Bitcoin price has far from bottomed, going by this analysis. Since the Fibonacci retracement levels are still so low currently. Based on this, the crypto analyst believes that the price will continue to crash with the maximum pain point sitting around $34,900 and $42,855. Going by this prediction, it means that the Bitcoin price could crash as high as 45% from its current level if it does play out. Interestingly, despite expecting such a massive price crash, the crypto analyst does not believe that the price will fall further. In fact, he points out that the Bitcoin price will never fall below the $30,000 price level ever again. Closing the analysis with some words for investors and traders, the crypto analyst advises, \u201cUpdate your numbers, update your trades, update everything. These are the new numbers.\u201d Not Everyone Is Bearish While Alan Santana\u2019s prediction is very bearish for the Bitcoin price, not all analysts have gone the negative route. In fact, with the 20% BTC price crash, some crypto analysts believe that the worst is already over and that the pioneer cryptocurrency will see a bounce soon. Related Reading: XRP Price On The Verge Of Breaking Falling Wedge That Could Lead To 4% Increase One of the crypto analysts who predicts a bounce in the price is Doctor Bitcoin, who also posted his analysis on the TradingView website. According to the crypto analyst, this is actually the time buy BTC due to a harmonic pattern that has appeared in the chart, which points to a bullish reversal pattern. For the target, Doctor Bitcoin has predicted a possible rise to $85,000, which would be around a 35% move from the current price point. At the time of writing, the Bitcoin price is trending at $62,800, showing a 2.26% increase in the last 24 hours. Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":627247,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651],"tags":[167,428,656,679,1119,89185,1122,1144,78790,6664,26263,14690],"class_list":["post-627218","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","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":"\n<title>Crypto Analyst Predicts 45% Drop For Bitcoin, But Says It Won\u2019t Go Below This Level<\/title>\n<meta name=\"description\" content=\"Bitcoin has been in a notable state of flux recently after recovering from the crash below $60,000 and 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Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers. Scott\u2019s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott\u2019s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life. With years of experience in the crypto market, Scott began to focus on his true passion: writing. 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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\/\"}]}<\/script>\n","yoast_head_json":{"title":"Crypto Analyst Predicts 45% Drop For Bitcoin, But Says It Won\u2019t Go Below This Level","description":"Bitcoin has been in a notable state of flux recently after recovering from the crash below $60,000 and establishing support above $61,000.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/wncen.com\/news\/bitcoin\/45-drop-for-bitcoin-crypto-analyst\/","og_locale":"en_US","og_type":"article","og_title":"Crypto Analyst Predicts 45% Drop For Bitcoin, 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Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers. Scott\u2019s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott\u2019s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life. With years of experience in the crypto market, Scott began to focus on his true passion: writing. 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. 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