Following possible approval of spot market BTC exchange-traded fund (ETF), a popular analyst warns Bitcoin He made a bearish prediction for (BTC).
Crypto analyst with the pseudonym DonAlt claimed on the TechnicalRoundup YouTube channel that Bitcoin could fall more than 25% from its current value.
I think we have a good chance of retesting $32,000.
He also says that if Bitcoin does not pull back to retest lower levels, it could rally as high as $60,000.
But this doesn’t have to happen. And that’s something I try to say very clearly every time I talk about price. Because people always assume that just because I say it could happen, it has to happen. But this is not true. The market could also rise to $60,000. It may retreat to $48,000 and then rise to $150,000. There is always the possibility that it will never be withdrawn.
NEWS CONTINUES BELOW
The trader predicts that Bitcoin will revisit the sub-$30,000 range following possible approval of spot market BTC exchange-traded funds by the SEC, which could occur in early January.
Bitcoin is trading at $43,869 at the time of writing. Additionally, it showed a slight increase in the last 24 hours.
Koinfinans.com As we reported, you can access the current market movements here.