Disaster Scenario for Bitcoin: Analyst Announces Worst and Best Possibility!

Cryptocurrency analyst said that Bitcoin will lose its psychological support and fall to the 40 thousand dollar band.

Cryptocurrency analyst known as DonAlt included the disaster scenario he drew for Bitcoin in a recent YouTube broadcast.

Stating that Bitcoin is holding on to the psychological support of $ 60 thousand, but this will not last long, the analyst stated that a fall below $ 60 thousand is inevitable.

At worst, 40 thousand dollars

The analyst said that if $60,000 is lost, there could be a drop of up to $40,000 in the worst case scenario. He noted that in the best scenario, 52 thousand dollars will be seen, followed by a horizontal price movement:

In the worst case, the point where you can come to the downside will be in the mid-$40,000s, around $44,000 to $40,000. I think that would be the worst. I think $40,000 at worst, I think that's the downside. I don't think it will go any lower. And if all of these turn bearish, the best case would be $52,000 and then a sideways price movement.

However, the analyst still did not think this was likely, emphasizing that a weekly close above the $63,000 price would create an upward trend for Bitcoin:

The problem is that this is unlikely to happen. The probability of a weekly close above $63,000 is around 10%. So I won't be so optimistic yet.