Tariff tensions fueled by US President Donald Trump have increased panic selling and negatively impacted Bitcoin and altcoins.
Tariff tensions have caused panic, leading to massive sell-offs in stocks and cryptocurrencies, with Bitcoin falling to a four-month low of $74,000.
As the uneasy atmosphere in Bitcoin continues, CryptoQuant CEO warned investors by stating that the bull market in Bitcoin is over.
At this point, a warning came from popular analyst Michael van de Poppe. Poppe stated that volatility in Bitcoin will increase in the coming days.
The analyst also said that Bitcoin could drop to as low as $70,000 before rallying again.
“Black Monday!”
Poppe described the sharp decline in Bitcoin and the broader crypto market as “Black Monday.”
The analyst warned investors that the next few weeks could be unpredictable and Bitcoin could face a major test by falling further from its current levels.
Poppe added that despite the uncertainty in BTC, he sees the sharp correction as a potential buying opportunity for long-term investors.
“Black Monday, Bitcoin is experiencing a return to the lows.
In times of panic, it is difficult to predict how low we will fall. However, for recovery, we will expect:
– Trump's delay of Tariffs (will not happen) – FED announces emergency meeting (may be in 1-2 weeks maximum) – Nothing for recovery and we will go down much more heavily.
As a result, I think we will see Bitcoin testing the bottom levels and experiencing a fluctuation in the next 1-2 weeks.
We can drop to $70,000 from these levels.
Bitcoin is in a 30% correction from its ATH, so in 12-24 months you will be happy you bought at these levels.”
*This is not investment advice.
