According to several leading Bitcoin analysts, the price of BTC could drop to $60,000 in the coming months. Bitcoin’s momentum has stalled recently and its recent major gains may prove fragile.
Several analysts predicted a bullish 2025 for Bitcoin, but nevertheless claimed that its price would first see a sharp decline in the short term before a future bull cycle materializes.
Will the price of Bitcoin collapse?
These Bitcoin price predictions were compiled by Ali Martinez, a prominent analyst in the field. Bitcoin futures price momentum has declined sharply recently, prompting fears the goal of $110,000 by New Year’s Eve is becoming unrealistic.
Meanwhile, some top analysts believe that the lack of support at different price levels and the existing supply shock may cause BTC to fall even further.
We now open Monday below $95,000. It’s very, very bad. We are now, as I like to call [it]sliding [into] the $92,000 range. Getting too close…literally opens Pandora’s box in a massive crash. The possibility has increased significantly and we could easily reach $73,000. You’re sitting at the last line of support,” Tone Vays said.
Over the past week, Bitcoin price has been within a “key support zone” between $97,000 and $93,800. If the asset’s value falls below this range, we could see a sharp decline to $70,000 as support is minimal below. Unfortunately, the BTC price is currently at the bottom of this range.
He also noted several trends that clearly reflect growing nervousness within the Bitcoin community. For example, investors sent over $3 billion in BTC to exchanges last week as Bitcoin whales limited their exposure. ETFs, normally a source of immense returns, have also seen capital outflows exceeding $1 billion.
Even bullish forecasts for the future still contain a touch of pessimism. For example, analysts of the podcast Into the Cryptoverse cocompared Bitcoin to the price movements of Invesco QQQ in the 90s. It rose in a very similar fashion to BTC this year, crashed dramatically, then rose again to completely surpass that first bull market.
“Bitcoin in a year, I think it will be around $250,000. But knowing that it is hyper-volatile, Mark Newton, our technician, thinks that the Bitcoin cycle slows down a bit early next year, perhaps Bitcoin will reach the 60s. $60,000 before 250 $000,” said Thomas Lee, CIO of Fundsrat Capital and CNBC contributor.
Ultimately, however, major asset managers continue to make unambiguously bullish predictions regarding Bitcoin’s price movements. For example, Bitwise claimed earlier this month that BTC could reach $200,000 in 2025, with constant growth. Pantera Capital even boldly declared that it would reach $740,000 by 2028.
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