Bitcoin experienced significant volatility this week due to the impact of the US CPI and PPI data and the FED interest rate decision.

After reaching close to $70,000 following positive economic data, Bitcoin dropped to $67,000 after the FED's announcement.

Investors are now questioning whether this decline will persist. Experienced analyst Peter Brandt, who accurately predicted Bitcoin's fall to $16,000 in 2022, has provided a new forecast.

Brandt shared his predictions for BTC's price, suggesting a potential downturn that could disappoint investors.

The veteran analyst stated that if Bitcoin's price falls below $65,000, the decline could continue, potentially dropping to $60,000 or even $48,000.

Specifically, if Bitcoin falls below $65,000, it may decline further to $60,000. Should it drop below $60,000, another 20% correction could occur, bringing the price down to $48,000.

Despite this bearish scenario, Brandt also hinted at the possibility of an upward movement. He advised Bitcoin investors to monitor the weekly close, noting that $66,000 is a crucial level. According to Brandt's chart, a close below $66,000 and a drop past $65,000 could push BTC down to $60,000.

However, Brandt also suggested that there might be a rally from the $60,000 level.

At the time of writing, Bitcoin is trading at $67,043. #Bitcoin❗ #BTC☀ #BTC #bitcoin #Cryptocurrencies