Analysts predict BTC collapse to $ 60,000

After bitcoin broke through the psychological mark of $ 100,000 and set a new all-time high of $ 103,900, its price plummeted to $ 91,998. The sharp price fluctuation sparked lively discussions among the cryptocurrency community. Experts disagreed on the future course of the exchange rate.

Doctor Profit analyst expects bitcoin to consolidate in the range of $ 90,000−110,000. In his opinion, after stabilization, the rate may rise to $ 125,000−135,000.

At the same time, Charles Edwards, founder of Capriole Fund, considers the current correction to be normal for bitcoin. He compared the situation to the previous rate increases at $ 1,000 and $ 10,000.

His opinion was supported by analyst DonAlt, who predicts a rapid price recovery within a few days.

Meanwhile, analyst Mark Cullen offered two scenarios at once. If bitcoin rebounds from the $ 94,600 level, it could return to over $ 100,000 early next week. If the rate fails to stay above this level, it may drop to $ 87,000.

A more pessimistic forecast was voiced by trader CryptoWizardd, who suggests a drop to $ 66,000−67,000 before resuming growth. In his opinion, this will be the result of long-term investors leaving the market.At the same time, political activist Jane Adams also warned of a possible drop in bitcoin to $ 60,000 and recommended refraining from buying in the current situation.

At the time of writing, bitcoin’s price reached $ 98,410, its market capitalization is $ 1.95 trillion, and daily sales reached $ 121.88 billion.

The dynamics of the bitcoin exchange rate remains unpredictable. Investors are considering both scenarios of further growth and a significant drop.