Bitcoin price has been struggling recently, experiencing a significant decline over the past two weeks. As BTC fell to $95,120, crypto enthusiasts are fearing a major crash ahead. A prominent crypto analyst, Ali Martinez, shared that several prominent figures in the crypto industry have warned that Bitcoin price could potentially fall to $60,000.

Fall below $95K could trigger a crash

Ali Martinez highlights a prediction from Tone Vays, a respected figure in the cryptocurrency space. Vays warns that if the Bitcoin price falls below $95,000, it could set the stage for a sharp correction to around $73,000.

Some investors have been preparing for this possibility. In fact, over the past week, more than 33,000 Bitcoins, worth about $3.23 billion, have been transferred to exchanges, suggesting traders are preparing for the next decline.

A repeat of the 2018 crash?

Another notable figure mentioned by Martinez is Peter Brant, a veteran trader who correctly predicted Bitcoin's collapse in 2018. Brant has voiced concerns that Bitcoin could break out of a key technical pattern, the expanding triangle, which could lead to a drop to around $70,000.

Interestingly, on December 23 alone, Bitcoin posted a realized profit of over $7.1 billion, which shows that many traders are taking advantage of the current volatility.

Can Bitcoin Reach $60,000?

Martinez also cited predictions from Fundstrat Managing Director Mark Newton and analyst Benjamin Cohen, both of whom have expressed concerns that Bitcoin's price could eventually fall to $60,000.

Cohen believes that Bitcoin price could follow a similar path as other assets like QQQ, which could lead to a crash around political events, such as Donald Trump's presidential inauguration.

However, there is still hope for Bitcoin's price increase!

Despite the bearish predictions, Bitcoin recently broke a key support level at $97,300. To avoid a bearish scenario, Bitcoin needs to rise above this level and stay above $100,000.

If this happens, Bitcoin could see a new bull run, with some experts predicting the price could reach $168,500.

Amid fears of a crypto crash, the Bitcoin Fear and Greed Index remains in the “Greed” zone at 74. This shows that some traders are still hopeful and believe that Bitcoin could have a major breakout soon.