While the leading cryptocurrency Bitcoin (BTC ($94,629.65)) started the new week with a sharp decline, analyst Peter Brandt, who has 50 years of experience, spoke after the declines.
Stating that there may be a further decline, the analyst stated that the BTC price could drop to $80,000.
Brandt added that Bitcoin is still in a bullish trend, although he noted that the risk of a downside continues.
The analyst also noted that fear of missing out, uncertainty, and doubt (FUD) often create scenarios similar to the last one, adding that it is too early to know what will happen next and in which direction the BTC price will move for sure.
“FUD and FOMO often lead to explosions. But it’s too early to know for sure. Although not a prediction, Bitcoin could fall below $80k but it will still be bullish.”
*This is not investment advice.
Continue Reading: To What Levels Can Bitcoin (BTC) Fall? Is the Bull Trend Over? Experienced Analyst Peter Brandt Explained!
