Analyst Says Bitcoin May Fall to This Level Before ATH, Announces Its Targets!

While Ethereum (ETH) and altcoins, especially Bitcoin, are generally in a downward trend, many analysts think that these declines may deepen further.

At this point, the cryptocurrency analyst known as Crypto Tony on social platforms argued that Bitcoin may fall a little more before rising.

Accordingly, the analyst claimed that Bitcoin could drop to $ 38,000 before the halving event, which is expected to take place in April 2024.

“I am currently expecting $38,000 in Bitcoin as we head towards the halving in April.”

$BTC / $USD – Update

Bring me $38,000 at once, written in the stars pic.twitter.com/qOcJ2ZqBT2

— Crypto Tony (@CryptoTony__) January 22, 2024

Additionally, the analyst stated that he has two decline targets for Bitcoin and announced that these targets are $ 38,000 and $ 31,000.

Although the analyst expects a decline in BTC before the halving, he maintains his expectation of an increase in the long term.

Because the analyst stated that he expected a new ATH in BTC this year and predicted that Bitcoin could reach a minimum of $ 80,000.

“I expect the maximum peak of this cycle:

ETH reaching minimum $8,000 BTC reaching minimum $80,000

But these are just guesses.”

The max peak of this cycle i do expect :$ETH to hit minimum $8,000$BTC to hit minimum $80,000

Guesstimates

— Crypto Tony (@CryptoTony__) January 21, 2024

*This is not investment advice.

Source