Several veteran analysts and industry leaders believe that a Bitcoin crash to pre-Donald Trump victory price levels is possible.
Bitcoin’s remarkable rise from $66,000 on November 4th to one All-time high of $108,000 Massive volatility followed on December 17th. Since then, the asset has plummeted to $96,000 due to market uncertainty.
As the downtrend continues, analyst Ali Martinez has highlighted the possibility of Bitcoin crashing to the $70,000 mark. To drive this point home, he specifically cited his previous analyzes and those of other industry veterans.
Market veterans insist a deeper Bitcoin crash is still possible
He Attention attracted to a comment from market veteran Tone Vays, who highlighted the importance of the $92,000 area as Bitcoin’s “final support line.” Vays warned that a break of this level could result in a decline to $73,000.
Likewise Thomas Lee and Mark Newton from Fundstrat foresee a temporary decline before Bitcoin resumes its long-term uptrend. Citing Newton, Lee suggested that a decline to $60,000 is possible before a recovery to $250,000 by 2025
Market veteran Michaël van de Poppe also previously compared He speculated that Bitcoin could mimic the price behavior of this QQQ, rising to $120,000 in January 2025 before declining sharply to $60,000.
Interestingly, on December 20, Peter Brandt also discussed the bearish outlook and identified a right-angled widening triangle on the Bitcoin chart. Brandt noted that this pattern could coincide with a test of the $70,000 level depending on how the market performs.
