Crypto Analyst Predicts 45% Drop For Bitcoin, But Says It Won’t Go Below This Level

Bitcoin
has
been
in
a
notable
state
of
flux
recently
after
recovering
from
the
crash
below
$60,000
and
establishing
support
above
$61,000.
However,
with
the
pioneer
cryptocurrency
failing
to
completely
beat
important
resistance
points
such
as
$63,500,
bearish
sentiment
continues
to
dominate
the
market.
Amid
this,
one
crypto
analyst
has
predicted
that
the
Bitcoin
crash
is
far
from
over,

forecasting
much
lower
figures
than
anticipated.

Crypto
Analyst
Calls
Out
Possible
Bitcoin
Crash
To
$35,000

In
a
new
analysis
of
the
Bitcoin
price,
crypto
analyst
Alan
Santana
has

predicted
a
possible
price
crash
in
the
near
future.
The
analysis,
which
was
posted
on
the
TradingView
website,
takes
into
account
the
past
performances
of
the
cryptocurrency,
identifying
various
points
such
as
a
maximum
pain
point.

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Reading

Santana
points
out
that
for
Bitcoin,
the
maximum
pain
point
currently
lies
between
the
0.618
and
0.786
Fibonacci
retracement
levels.
This
means
that

the
Bitcoin
price
has
far
from
bottomed,
going
by
this
analysis.
Since
the
Fibonacci
retracement
levels
are
still
so
low
currently.

Based
on
this,
the
crypto
analyst
believes
that
the
price
will
continue
to
crash
with
the
maximum
pain
point
sitting
around
$34,900
and
$42,855.
Going
by
this
prediction,
it
means
that
the
Bitcoin
price
could
crash
as
high
as
45%
from
its
current
level
if
it
does
play
out.

Interestingly,
despite
expecting
such
a
massive
price
crash,
the
crypto
analyst
does
not
believe
that
the
price
will
fall
further.
In
fact,
he
points
out
that

the
Bitcoin
price
will
never
fall
below
the
$30,000
price
level
ever
again.

Closing
the
analysis
with
some
words
for
investors
and
traders,
the
crypto
analyst
advises,
“Update
your
numbers,
update
your
trades,
update
everything.
These
are
the
new
numbers.”