An investor named Murad Makhmudov has laid out two potential paths forward for Bitcoin. According to his analysis, the bull market could extend beyond its usual four-year cycle if the price stays above $60,000. The value of the primary cryptocurrency could fall to $30,000 in the event of a worldwide recession, though this would depend on general economic trends.
There is a good chance that Bitcoin will reach $60,000, according to Julio Moreno, head of research at CryptoQuant. Around the $62,800 realized price for short-term holders, he said, Bitcoin is at a critical level. This indicator has the potential to either bolster prices or trigger a correction of 8 to 12%.
Peter Brandt, an experienced trader, predicts that if the price breaks below the $60,000 support level, it might continue to decline until it reaches $48,000.
