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Top Analysts Predict Bitcoin’s Next Price Moves, Warning of Potential Market Downturn

Published 06/25/2024, 02:59 PM
Updated 06/25/2024, 03:45 PM
© Reuters Top Analysts Predict Bitcoin’s Next Price Moves, Warning of Potential Market Downturn

  • Joe DiPasquale warns Bitcoin could drop to $50k if $60k support breaks.
  • Grant Tungate emphasizes the importance of the $55k-$58k support zone.
  • William Noble predicts a fall to $56.2k if Bitcoin fails to reclaim $61.1k.

Bitcoin’s key support levels are under scrutiny as analysts predict potential price declines that could ripple across the cryptocurrency market, according to the latest Forbes analysis.

Forbes’ analysis emphasized Bitcoin’s critical support levels that may become relevant if the world’s largest cryptocurrency falls below its current threshold. The predictions, shared by leading industry experts, suggest potential price dips that could reverberate throughout the market.

Joe DiPasquale, CEO of BitBull Capital, stated that if Bitcoin breaches the crucial $60,000 support level, it could plummet to $50,000. This suggests a cautious outlook for the broader market, as Bitcoin’s price movements often influence other cryptocurrencies.

Grant Tungate, Head of Business Development at Blockforce Capital, identified the key support zone between $55,000 and $58,000. He emphasized the significance of the 200-day moving average, currently at $57,500, as a…

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