Bearish Bitcoin Price Prediction from $88K Level
Bitcoin is plunging again and has lost about 20% of its value over the last month with the bearish trend.
Quick overview
- Bitcoin's price has dropped to $88,779, marking its lowest level in months and breaking previous support expectations.
- The coin is struggling to reclaim lost ground, with a significant drop in trade volume and a 20% decrease over the last month.
- Despite the current downturn, there is hope for recovery with the successful presale of Bitcoin Hyper, which could act as a catalyst for BTC.
- Analysts are now cautious about Bitcoin's future, adjusting price predictions and expressing concerns over the coin's ability to reach previous highs this year.
The bears have Bitcoin once more, and the coin is down to $88,779 (BTC/USD) for Wednesday, which marks its lowest price level in months and destroys previous support level expectations.
On the positive side, Bitcoin is currently priced very attractively, but it is also having a hard time reclaiming lost ground. The coin is below $90K and may not be back to $100K for a while, likely laying waste to many hopeful price predictions for the token.
BTC/USDInvestors will be incredibly wary of buying in since the coin is struggling to even hit $100K at this point. It has now been nearly a week since the coin has fallen below that critical level, leaving many investors and analysts wondering how much longer BTC will stay down.
Bitcoin’s Tough Road ahead
On Wednesday, Bitcoin’s trade volume dropped 35% to $74.4 billion over the last 24 hours. The coin’s price is down 20% over the last month and 5% over the last day. Investors are rapidly losing confidence in the digital token and cashing in their shares before the coin drops any lower.
The good news for investors is that Bitcoin Hyper, which is part of the Bitcoin ecosystem and is designed to improve scaling, has enjoyed a $28 million presale. There is hope that with this new development for the Bitcoin infrastructure, BTC could surge soon. We saw something similar happen with Bitcoin when Bitcoin ETFs performed well earlier this year. Ethereum (ETH) shot up as well this year after the Pectra upgrade added new features to the coin’s ecosystem.
We might see something similar happen with Bitcoin, and the coin really does need a strong catalyst right now to help it rally. With fear surrounding AI and risky assets plaguing the market, Bitcoin and other cryptos are performing poorly. BTC may not be down to its 2025 low point again, but it is close, and price predictions for the coin will adjust accordingly.
Instead of expecting a $150K price coup for Bitcoin before the year is up, analysts are now worried that the coin may be in freefall. Talk of the crypto market flattening out and most of the 2025 gains evaporating is making it hard for anyone to expect much from the coin in the next few weeks. We believe that BTC could surge before the year is up and even set a new record high, but a new high is unlikely before December. The coin could finish strong, but it will need a lot of help from the whales and from a number of market catalysts. Right now, interest in the coin is waning and investors are not very confident that it can recover well this year.
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