The expert allowed bitcoin to roll back to $20,000

The bitcoin price will at least drop into the range of $30,000-36,000 before likely reaching a local bottom of about $20,000. This forecast was given by Placeholder partner Chris Berniske.

At the same time, testing levels around $ 20,000 will be an "actual step" towards a subsequent exit to previous highs, he believes.

In his opinion, the fall of other assets will be deeper than that of bitcoin.

Berniske noted that he is talking about local lows/highs, and not about the entire current market cycle of the first cryptocurrency. He considers the long-term trend to be positive.

Earlier, ex-CEO of BitMEX Arthur Hayes also predicted the departure of bitcoin quotes below $35,000 due to global macroeconomic and political turmoil.

A tech analyst under the nickname Ali indicated that a breakdown of the $38,130 level would provoke a wave of panic sales by short-term holders who would try to minimize losses.

On January 11, against the background of the launch of spot bitcoin ETFs in the United States, the price of the first cryptocurrency broke the $48,000 mark. However, the exchange rate then went down and on January 23 failed the $40,000 level. Only by the end of the month did the price exceed $42,000 again. At the time of writing, digital gold is being held above it (CoinGecko).

Recall that industry veteran and CEO of Blockstream Adam Back suggested that the price of bitcoin will exceed $ 100,000 even before the halving expected in April.