The leading cryptocurrency Bitcoin (BTC), which reached the $100 mark last week, has been in a downward trend in recent days.
Bitcoin, which fell to $90,000 in this decline, continues to make investors nervous.
At this point, while analysts state that we are in a bull market, the rise will continue and such pullbacks are normal, 10X Research founder Markus Thielen, known for his accurate predictions, announced the new forecast.
Stating that $89,000 and $75,000 are critical for Bitcoin in the current correction, Theilen said that these are two important support levels for BTC.
Thielen noted that the first major support level for Bitcoin is $89,000, if this support level is broken, the next support level will be $75,000.
Expecting a recovery from these levels, the analyst added that it may take a few days or a few weeks for BTC to rise again.
The analyst last noted that historically, Bitcoin has performed well in December.
On this subject, Standard Chartered analyst Geoff Kendrick also said that the decline in Bitcoin could continue in the short term and BTC could fall below $88,000 in these declines.
However, the analyst also noted that previous Bitcoin predictions are still valid and that BTC could reach $125,000 by the end of the year and $200,000 by 2025.
Finally, CryptoQuant CEO Ki Young Ju also stated that declines in Bitcoin should not scare investors, and that such declines also occur in bull markets, and that investors should avoid panic sales.
*This is not investment advice.
