Bitcoin has broken down considerably and has fallen to a critical level of $ 79,000. At the press time, the token seems to float at the price level of $ 80,000 and show signs of volatility and fluctuations on the go. BTC’s flickering price effect is spreading devastation in the market right now. In the midst of this, an expert has predicted a lowest threshold that Bitcoin can hit in the current bike.
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How low can bitcoin go?
That being said, an analyst, rager, has predicted a new low for bitcoin given the current market moment and pace. Rager took to X to share his analysis and added how it is “normal” for Bitcoin to hit as low as $ 70,000 levels in the current market scenario.
Rager emphasized how BTC is down 27% right now. He later shared how such backbacks are normal in bull cycles, and added that tokens usually fall 30% to 40% in the bull markets. When he talked about BTC that hit $ 70K, eager how this would not be a “abnormal scenario”, as BTC will always return to its stable price value in the near future.
“$ BTC is at -27% return. Quite normal in previous cycles, even during the bull markets, for Bitcoin to drop -30% to -40%. Would not be abnormal to sink to the middle to low $ 70s. Imo, we see everything at higher prices in a month from now. “
$ BTC is -27% dragback
Quite normal in previous cycles, even during the bull markets, for bitcoin to drop -30% to -40%
Would not be abnormal to sink to the middle to low $ 70KS
Imo, we see everything at higher prices of a month from now regardless of pic.twitter.com/nmlktwa9ti
– rags (@rager) February 28, 2025
The token technical report
Per CoinkodostBTC is still aiming for the top position. If all goes well, bitcoin can return to its previous price value at the end of March, possibly shop to a new height of $ 121,000.
“According to our current Bitcoin prize pregnancy, the price of bitcoin is predicted to rise by 50.59% and reach $ 121,326 by March 30, 2025. According to our technical indicators, the current feeling is baissed while fear & greed index shows 16 (extreme fear). Bitcoin registered 13/30 (43%) Green days with 4.13% price volatility over the past 30 days. Based on the Bitcoin forecast, it is now a bad time to buy bitcoin. “
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