Bitcoin Scares Analyst as It Goes to $69,000! Here Are the Levels BTC and ETH May Fall To!

The analyst also talked about the potential consequences of this situation while examining Bitcoin. According to the analyst, a possible price drop in BTC could have a major negative impact on altcoins.

If BTC starts to gain momentum downward and drops to $53,000, a very aggressive decline can be expected in altcoins as well.

When the graph shared by the analyst is examined (above), it is seen that the situation is not very encouraging. According to the analyst, the price rally in Bitcoin may have ended and a significant pullback in BTC's price may also occur.

When we look at the Bitcoin price, it has been seen that it has experienced a visible increase in the past minutes and is approaching the $69,000 level. As of the writing time, the BTC price continues to find buyers in the $68,842 region, while the market volume has exceeded $1.359 trillion. Despite this, the trading volume is at $24.449 billion after a 27% decrease.

After commenting on BTC, Credible Crypto turned his attention to the possible price movements in altcoins and shared with his followers how altcoins might react after the correction that might occur in Bitcoin and said: For some altcoins, this decline will probably be temporary before a strong recovery. For others, it could be the beginning of a more significant decline.

Although there may be a decline, the analyst, who does not seem to have taken on a hopeless structure, has a comment that this situation can be evaluated as a buying opportunity. According to the analyst, Bitcoin can rise to $100,000.

After Bitcoin, the analyst also commented on Ethereum (ETH), stating that ETH has a clearer downward trend than Bitcoin and adding: I am much more confident in seeing the lowest levels of ETH than seeing BTC increase its own lows to $53,000. With the amount of weakness we are currently seeing in ETH, it is certainly possible that ETH sees new local lows (below $2,800) while BTC makes a higher low.