Analyst predicts that bitcoin will fall below $ 60,000

After rapid growth, the main cryptocurrency BTC $61,267.24 Bitcoin -0.45% Market capitalization $1.21 trillion VOL. 24 hours $1.88 billion has faced a global slump. The community is expecting a halving, which is expected to take place on April 20. In this regard, many experts are trying to predict what will happen to BTC after this event.

Crypto analyst TradingShot believes that after the halving, bitcoin will face a deep landing and plummet below $ 60,000. The expert came to this conclusion by analyzing the Fibonacci areas on a weekly interval. He also emphasized that bitcoin is likely to correct to the Fibo level of 0.382 after halving.

According to TradingShot, bitcoin began to recover in 2023, having experienced a rather difficult 2022. The expert did not rule out that in the long run, the main digital coin will reach the $ 100,000 mark. However, a deep correction should take place before then.

Despite the exchange rate drop in early April, BTC showed positive results in the first quarter of this year. It is noteworthy that BTC’s correction occurred against the backdrop of rising gold prices and increased US Treasury yields. Although the U.S. economy is resilient, many experts remain concerned that inflation in the U.S. may show a sharp rise.