There has been a significant decline in the price of Bitcoin. Some analysts see this as a natural correction, while others are pessimistic and say that Bitcoin could face a historic collapse. In this article, we will try to understand what is happening, what are the reasons, and what are the expectations for the coming period.
Many trading platforms have been exposed to hacking and theft, which makes investors doubt the safety of their funds in this market.
Bitcoin is known to move very quickly. One day you find it flying up and the next day it is falling sharply. These fluctuations make people afraid to put their money in it, and this affects its value.
Many governments around the world are tightening control over the digital currency market, which makes investing in it more difficult and scares people away from taking risks.
Where is the market going?
According to TradingView data, the current price of Bitcoin is around $97,488, the highest price it reached during the day was $101,413, and the lowest price was $96,297. These movements confirm that the market is in a state of extreme volatility and the direction is not clear.
There is an important support level at $93,642. If the price breaks this level, we will see a historic decline in the coming period.
Top Analysts Opinion: Optimism is not in Bitcoin's favor
Legendary investor Warren Buffett thinks Bitcoin is a bubble and that it will not end well. He always warns against digital currencies and says that they are not a real investment.
Peter Brandt, one of the most famous technical analysts, says that Bitcoin could drop to $78,000, but he admits that the market is always full of surprises.
Peter Berezin went further and said that Bitcoin could drop to $45,000 in 2025 due to the global economic slowdown that could cause investors to flee risky assets.
What is expected in the coming period?
Bitcoin is going through a very difficult period, and not all forecasts are in its favor. Some say it is just a temporary correction, while others see it as a real collapse. In the end, anyone entering this market must know that it is a high-risk investment.
The market is very volatile, and no one can determine the direction accurately.
There are government pressures and strong fluctuations affecting Bitcoin.
If the support at $93,642 is broken, we may see a stronger decline.
Top analysts have very pessimistic forecasts.
The question you have to ask yourself is, is Bitcoin really on its way to collapse or is this just a crisis that will pass?
