The post Analysts warn Bitcoin will crash to $60,000 appeared on BitcoinEthereumNews.com.

As it turned out by December 27, the trade-off for Bitcoin’s (BTC) 61% climb in November from about $67,000 to above $108,000 was an almost complete lack of a ‘Santa Claus’ rally ahead and during Christmas, which resulted in the coin changing hands at $96,273 at press time. BTC 6-month price chart. Source: FInbold Indeed, BTC performance in the last 7 to 10 days has been so lackluster that numerous cryptocurrency and on-chain analysts have started forecasting a significant plunge for the digital asset, even if many of them still see a longer-term rally. Analysts forecast Bitcoin flash crash as BTC rejects breakout above $100,000 A major trigger for the bearish prediction has been Bitcoin’s recent inability to find a stable footing above $95,000. The world’s premier cryptocurrency has spent much of the last week trading roughly in the range between $92,000 and $99,000 though most of the trading has been closer to the lower bound. Such a trend prompted Tone Vays, a derivatives trader and financial educator, for example, to forecast that, unless BTC manages to stably reclaim levels above $95,000, it could face a correction to $73,000. Peter Brandt, otherwise a staunch believer in Bitcoin’s strength, proved even more pessimistic as he hinted at a possibility the cryptocurrency’s next move could take it down toward $70,000.  Hey trolls — this is not a prediction. Just always pointing out possibilities, not probabilities, not certainties. No screen shot is necessary $BTCA right angled broadening triangle could project back into the 70s and a test of the parabolic modality pic.twitter.com/n5sy6DxAMb — Peter Brandt (@PeterLBrandt) December 20, 2024 Brandt, however, reaffirmed his long-term optimism in the comments beneath the X post as he confirmed he still foresees an eventual rally above $130,000. Mark Newton, a director, and strategist at Fundstrat, similarly forecasted…

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Filed under: News - @ December 27, 2024 11:18 am