Bitcoin’s price is likely to experience further decline, with historical data indicating that during past bear markets, the cryptocurrency has typically found support around its 200-week moving average. This level acts as a significant floor where price stability tends to occur despite downward pressure. Currently, Bitcoin is expected to approach this crucial support near $60,000. As the first and most well-known digital cryptocurrency introduced in 2009, Bitcoin’s price fluctuations depend on overall market conditions and global financial factors. Over recent years, it has witnessed several historic bull and bear markets, with the 200-week moving average providing a strong support line even during steep declines. Due to the volatile nature of the crypto market, investors are advised to exercise caution, as price swings can be sudden and unpredictable. A drop below $60,000 could signal further bearish momentum, though such breaches have historically been rare. Moving forward, Bitcoin’s price trajectory will largely depend on global economic conditions, investment trends, and regulatory policies related to cryptocurrencies. Investors should carefully analyze both technical and fundamental market factors to make informed decisions.
Source: coindesk
