DonAlt: bitcoin has a chance to fall to $ 80,000

Popular cryptocurrency analyst DonAlt warns of a possible significant collapse in the value of bitcoin BTC $95,216.49 Bitcoin -0.94% Market capitalization $1.88 trillion VOL. 24 hours $3.39 billion if it fails to exceed the $ 100,000 mark. According to the expert, the price decline could trigger a new stage of correction that could bring bitcoin down to $ 80,000.

The analyst notes that if the price falls to $ 90,000, it may temporarily recover to $ 94,000 or even $ 95,000, but the long-term trend will remain downward.

«If the price drops to $ 90,000, we may see a short-term strengthening, but it will not be a positive signal for further growth. I expect the market to return to levels around $ 80,000 after that,» he explains.

However, the situation may change if bitcoin first rises to $ 120,000 and then corrects to $ 90,000. In this case, the $ 90,000 level could become a strong support for new growth.

At the time of writing, the bitcoin rate reached $ 92,468, the market capitalization is $ 1.83 trillion, and daily sales reached $ 99.34 billion.

Investors are closely watching the developments as the key levels for the market remain $ 90,000 and $ 100,000.

This situation emphasizes the importance of caution in the cryptocurrency market, where significant price fluctuations can have serious consequences for investors.

As you know, on November 26, the price of bitcoin fell to $ 92,600, setting a local low. This happened after a sharp decline of $ 5,000 per day on November 25, which led to the liquidation of cryptocurrency positions worth more than $ 500 million.