The post Analysts warn of further Bitcoin downside — Could BTC revisit $42K? appeared on BitcoinEthereumNews.com.

Despite the gloomy outlook, Bitcoin could prevent more downside pressure if it manages to remain above the $51,000 mark. Crypto analysts warn that the current Bitcoin sell-off could lead to lower lows, potentially threatening a dip below the $45,000 mark. The Bitcoin (BTC) price fell by more than 12.8% in the past 24 hours to trade at a five-month low of $52,369 as of 10:13 am UTC, according to Cointelegraph data. Bitcoin last trading at this level at the end of February 2024. Yet, Bitcoin’s downtrend could potentially extend to the $42,000 mark, according to Alex Kuptsikevich, senior market analyst at FXPro. Read more Source: https://cointelegraph.com/news/analysts-warn-bitcoin-downside-btc-revisit-42k?utm_source=rss_feed&utm_medium=feed%3Ft%3D1722906310&utm_campaign=rss_partner_inbound

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Filed under: News - @ August 6, 2024 1:06 am