Crypto analyst DonAlt has outlined a scenario where the Bitcoin price could drop to as low as the mid-$40,000. He further suggests that this price breakdown might be necessary for the continuation of BTC’s bull run.
How Bitcoin Could Drop To As Low As $47,000
In an update to his Bitcoin analysis, DonAlt noted that Bitcoin had dropped back to around the $60,000 price range and could eventually break that support if it continues to be tested. From the accompanying chart he shared, the crypto analyst hinted that a price breakout below the $60,000 range would see Bitcoin drop to $52,000 or even further down to $47,000.
Meanwhile, he added that this might be something even the bulls want, so there could be a washout below $60,000, which would shake off weak hands. DonAlt also seems to support a price breakout below the support area, as he shared his belief that there is currently complacency in the market.
This is when crypto investors ignore the risks associated with Bi
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