Crypto analyst Altcoin Sherpa recently raised the possibility of a Bitcoin price crash to $50,000. He also commented on the current price action and revealed the price level at which he expects a bounce, with BTC already witnessing a significant decline from its current all-time high (ATH).
Analyst Predicts Bitcoin Price Crash To $50,000
In an X post, Altcoin Sherpa indicated that the Bitcoin price could still crash to as low as $50,000 by year-end. His accompanying chart showed that BTC will touch the $105,900 resistance level again and then begin its massive decline from there. In another X post, he revealed that his $50,000 prediction was just a joke and that he doesn’t think that will happen.
However, the analyst is cautious about the current market conditions, stating that he is not rushing into any positions. He alluded to how the Bitcoin price had crashed following Donald Trump’s recent post, although he believes that a bounce should happen “relatively soon.” His accompanying chart showed that a bounce should happen between the $102,000 and $104,000 range.
In a Truth Social post, Donald Trump stated that China had violated the trade agreement with the US, a statement that sparked concerns that the trade war between the countries could escalate again. Since Trump’s statement, the Bitcoin price has dropped from around $106,000 to as low as $103,100.
Following this Bitcoin price crash, Altcoin Sherpa highlighted the point of control for BTC, which is around $104,000. He remarked that a bounce should happen from here. However, tensions between the US and China threaten to lead to lower prices. According to a Reuters report, Defense Secretary Pete Hegseth warned about an imminent threat from China and declared that they are ready to fight back.
BTC Could Still Drop To As Low As $102,700
In an X post, crypto analyst Titan of Crypto suggested that the Bitcoin price could drop to as low as $102,700. He revealed that BTC is pulling back toward the daily Kijun at around $102,700, an area which had previously held and one which the analyst claimed could act as a solid base for the next move.
In an earlier analysis, the crypto analyst had stated that the Bitcoin price could be on its way to retest previous resistance, which had turned support before it pushes higher. Amid this restest, Titan of Crypto warned that BTC cannot witness a reintegration below the current market structure as this could lead to lower prices.
At the time of writing, the Bitcoin price is trading at around $103,700, down over 2% in the last 24 hours, according to data from CoinMarketCap.
Featured image from Getty Images, chart from Tradingview.com
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