Grim Bitcoin Price Prediction: Analyst Warns of Potential Bearish Sentiment

Some analysts point to potential bearish trends for Bitcoin, predicting a drop to as low as $59,000, suggesting the cryptocurrency has reached its cycle peak.

Peter Schiff continues his critical stance on BTC, identifying $60,000 as a key resistance level and warning of a significant potential decline if this is not overcome.Bitcoin’s price has been hovering around $64,000-$67,000 in the past few days, currently trading at the lower mark.

He believes a further plunge below $63,300 may trigger a price downfall to $61,000 or even a two-month low of $59,000. Another trader who presented a worrying scenario for BTC bulls is Mikybull Crypto. The analyst assumed that the leading digital asset has reached its cycle top and expects a price retreat from now on.

When speaking of people who believe BTC’s value is on the verge of a decline, one should mention Peter Schiff. Most recently,What is Renzo Protocol? The Liquid Restaking Primitive ExplainedAI Will be One of those Areas Where Blockchain has Genuinely Improved: Flare Network’s CEO Hugo Philion One Weekly Email Can Change Your Crypto Life.Disclaimer: Information found on CryptoPotato is those of writers quoted.

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