Bitcoin (BTC) has faced challenges in the past week and its price has failed to show a significant increase. According to analyses, the recent downward trend of Bitcoin may strengthen the possibility of it dropping to $60,000. Various analysts, including Ali Martinez and Peter Brandt, have predicted a potential drop in Bitcoin’s value. Data from Glassnode indicates that the market bottom for Bitcoin is above $60,000. While the MACD indicator shows a bearish market that could lead to a correction and a drop back to $60,000, the Chaikin Money Flow indicator suggests a slight increase, possibly indicating buying pressure and an upward trend. There are also signs of growing concerns within the Bitcoin community, such as investors transferring over $3 billion worth of Bitcoin to exchanges and Bitcoin whales refraining from entering the market. However, some optimistic predictions compare Bitcoin to historical price movements of assets like Invesco QQQ, suggesting possible future growth despite a potential drop. Experts like Thomas Lee predict a drop to $60,000 before Bitcoin reaches $250,000 by 2025. Big companies like Bitwise and Pantera Capital have varying predictions for Bitcoin’s price by 2025 and 2028 respectively.
