Bitcoin cryptocurrency is predicted to fall by 40%

Crypto analyst Justin Bennett said that bitcoin has not yet reached its bottom, and therefore will continue to fall by 40% of its current value.

In his new article, Justin Bennett warned that digital assets will continue to decline in value: «I don’t think it’s time for a minimum price for bitcoin. Even a drop to $ 16,000 might not be the worst situation,» the analyst explained his point of view. At the time of writing, BTC is trading at $ 19,324.

Bennett also predicted a further 36% drop in Solana (SOL) at the current price: «Judging by the weekly charts, another drop in Solana’s price is quite possible. Approximately to $ 20,» the crypto trader said. At the time of writing, SOL is trading at $ 32.

Bennett’s forecasts also affected Ethereum, which is destined to fall by more than 20% from the current level: «Ethereum could fall to $ 900 and potentially to $ 780.» At the time of writing, ETH is trading at $ 1052.

Given that crypto investors are currently divided into two camps: those who perceive the price drop as a good opportunity to buy digital assets (including MicroStrategy, the world’s largest OTC bitcoin whale, the president of El Salvador, and the CEO of Binance-nazvav-idealnyj-moment-dlya-pokupky-bitkoyina/">Binance). And those who «pray to the father of bitcoin, Satoshi, and hope that the crypto winter will end someday,» as Arthur Hayes, the former head of the BitMEX cryptocurrency exchange, recently said.