Bitcoin (BTC) continued the upward momentum it started after Trump's victory in November to the $108,000 ATH in December. However, Bitcoin, which has been falling after the $108,000 ATH, is moving within a certain range.
However, one analyst has claimed that Bitcoin is likely to experience further declines and is likely to remain below its $108,000 ATH for some time.
Speaking in a YouTube video, famous crypto analyst Jason Pizzino warned that Bitcoin could fall to $80,000 if key support is broken.
At this point, the analyst said that if Bitcoin breaks the critical support level of $91,750, the decline could deepen to below $80,000.
The analyst argues that a drop below $85,000 could deepen the correction, potentially heading to $73,000-74,000.
Despite the bearish forecast, the analyst added that he sees the ongoing declines as a healthy market correction following an extreme bull market.
“Bitcoin’s drop below $85,000 could mean an extension of the correction to $73,000-$74,000 (which are previous highs, which is a worrying sign).
Right now, Bitcoin is at a critical point. It has been 14 days since BTC last hit its ATH. This is the longest Bitcoin has stayed below its peak throughout the entire move after breaking through the $74,000 peak on Election Day [November 5, 2024].
So Bitcoin may take longer than expected to recover to new ATH.”
Bitcoin Prediction for 2025!
Analyst X also announced his expectations for 2025 in a post he shared on his account.
Accordingly, analysts listed their expectations as follows:
“…. Bitcoin will not fall below $66k this cycle. No monthly close below $74k this cycle. Bitcoin will reach at least $122k (probably $144k) in 2025. ETH will overtake BTC in 2025. ETH/BTC will close the year higher. ETH/BTC will not break 0.09 this cycle.”
My Top 13 Forecasts for 2025
Attempting to forecast the markets is something I've enjoyed doing; turning this into an annual event to reflect on at the end of the year and see what worked and what I can improve on.
Below are my market forecasts for Bitcoin, SP500, Nasdaq, Dow… pic.twitter.com/o4rcbjz0Vg
— Jason Pizzino 🌞 (@jasonpizzino) January 2, 2025
*This is not investment advice.
