Bitcoin Price Prediction: Will BTC Crash to $30K as Analyst Warns of \'Game Over\' Scenario?

Bitcoin, the undisputed leader of cryptocurrencies, is currently under the spotlight due to concerning analyzes that suggest bearish scenarios.

Bitcoin price analysis reveals potential bearish scenarios

Bitcoin price is currently in the spotlight due to important analyzes and this Analyzes point to bear market scenarios. The situation is causing serious concern among investors and could have significant impacts on the overall cryptocurrency market.

Jason Pizzino warns of significant support for Bitcoin

Cryptocurrency analyst Jason Pizzino has recently issued worrying warnings about the future of Bitcoin found. In one of his recent YouTube videos, he emphasized that the major cryptocurrency could experience a serious decline if it cannot maintain the important support level. According to Pizzino, a fall below the $50,000 threshold could lead to a decline towards the critical support level of $44,600. He noted that if there are candle closes below this level, the chances of a decline below $40,000 will increase significantly and a major trend break will occur. According to the analyst, at this point Bitcoin may test the $ 30,000 and $ 20,000 levels. Then, “Game Over” for the queen of cryptocurrencies.

Despite these bear market views, Pizzino also said that Bitcoin could continue its upward trend if it manages to stay above the bull market support level. He even stated that as long as Bitcoin remains above $49,243, levels up to $60,000 could be reached by November. However, market observers emphasize that the psychological threshold of $60,000 remains a critical point for continued growth and overall market stability.

Technical signals indicate an imminent decline

Bitcoin is facing technical pressures from selling pressures and bear market, according to 10x Research It could drop below $50,000 due to a combination of indicators. The US government, the German government and Mt. Gox's large-scale Bitcoin transfers (17,888 BTC in total) since June 19, 2024 caused panic among investors. This has led to Bitcoin price falling to its lowest level since February.

A technical analysis also shows that Bitcoin is currently trading below its 20, 50, and 200-day exponential moving averages, indicating significant bear market momentum. Key indicators such as RSI and MACD confirm this negative trend on the daily technical chart. Experts predict that if Bitcoin breaks the critical $50,000 threshold, the next support could be around $44,771. This series of bear market predictions underscores the importance of investors remaining cautious and prioritizing risk management during a period of increased volatility.

Bitcoin is going through a turbulent period with analyst warnings and significant selling pressure. Experts' predictions point to the potential for a decline below current levels that could have profound effects for the cryptocurrency market.

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I am a graduate of Sciences Po Toulouse and a blockchain consultant certified by Alyra. I joined the Cointribune adventure in 2019. Because I believe in the potential of Blockchain to transform economic sectors, I have committed to raising awareness and informing the masses about this ever-evolving ecosystem. I want to help them understand Blockchain better and grasp the opportunities it provides. We aim to impartially analyze current events, decipher market trends, convey the latest technological innovations and put the economic and social interests of this revolution into perspective

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