A crypto analyst known as IncomeSharks has made a prediction about Bitcoin’s future price movement. The analyst believes Bitcoin might fall below $60,000, triggering panic selling from some holders. IncomeSharks sees this as a necessary step to clear out those relying on that price point as support.
This prediction comes just ahead of the upcoming Bitcoin halving, an event expected to reduce the number of new Bitcoins created. Historically, this event has been followed by price increases.
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Market Volatility and Analyst Opinions
IncomeSharks’ prediction aligns with recent market volatility. Another analyst, Ali Martinez, identified $62,000 as a key support level. If Bitcoin falls below that level, the next major support zone could be around $51,500. However, Martinez also sees a potential trigger for a price upswing if Bitcoin climbs above $66,250.
Meanwhile, financial commentator Jim Cramer recently advised against investing in a Bitcoin mining company, Marathon Digital Holdings, and instead suggested buying Bitcoin or Ethereum directly.
