Potential Bitcoin Price Decline: Analyst Forecasts Fall to $63,000
Bitcoin’s price has dropped below $90,000, with analysts warning of a potential fall to $63,000 if it fails to break the $99,500 resistance level. Analyst Alixjey suggests this could present buying opportunities for long-term investors. The upcoming Non-Farm Payroll data could add volatility to the market.
Bitcoin experienced a surprising drop below the $90,000 mark, unsettling the crypto community that had anticipated a continuous upward trend. A crypto analyst, Alixjey, suggests that if Bitcoin does not surpass the $99,500 resistance level, the cryptocurrency could plummet to around $63,000. This potential decline would be particularly severe for investors following its record high of $104,000 earlier this year.
According to Alixjey, Bitcoin’s price may range from $106,000 to as low as $60,000. This downturn is considered a favorable opportunity for long-term investors to accumulate Bitcoin at lower prices, especially given previous high costs that likely discouraged many retail investors. The analyst emphasizes that a drop to this range could represent a crucial re-entry point for investors aiming for profits in the latter part of 2025.
The analyst also spotted critical liquidity levels in the short-term trading chart and declared a bearish sentiment regarding Bitcoin’s immediate price outlook, stating that his predictions will only change if Bitcoin crosses the $94,000 to $98,000 resistance range. Heightened volatility can also be expected from the Non-Farm Payroll (NFP) data releases, which could affect both the stock and crypto markets significantly, warranting caution among investors.
Herbert Sim, the Chief Marketing Officer of AICean, aligns with this bearish sentiment, predicting a potential drop to $40,000 while suggesting that any such downturn might be short-lived. He encourages long-term investors to maintain their holdings, as a recovery is likely to follow the bearish trends of Bitcoin.
In summary, Bitcoin currently faces significant resistance around the $99,500 mark. Analysts project a possible drop to between $60,000 and $65,000 if this resistance holds, presenting potential buying opportunities for long-term investors. Additionally, upcoming economic data releases may further increase market volatility, reinforcing the need for caution among traders. Despite bearish projections, there is potential for recovery in the longer term, making it essential for investors to adopt a strategic approach.
Original Source: www.tradingview.com
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