Analyst Warns of Bitcoin’s Uncertain Future Amid Key Support Breakdown: ‘It Could Get Ugly’
Posted On January 11, 2025
A prominent cryptocurrency analyst has raised concerns about Bitcoin‘s (CRYPTO: BTC) potential downfall if it fails to maintain a significant support level.
What Happened: Altcoin Sherpa, a well-known crypto trader, alerted on X that Bitcoin’s value could plummet to the low $80,000 range if it fails to hold $90,000 as support.
Altcoin Sherpa further speculated that Bitcoin might continue its bearish trend until the US government finalizes its plans for the Bitcoin seized from the Silk Road darknet marketplace.
This speculation comes in the wake of reports that the government has received legal approval to sell over 69,000 BTC.
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