Bitcoin has broken down significantly, falling to a critical level of $79K. At press time, the token seems to be hovering at the $80k price level, showing signs of volatility and fluctuations on the go. BTC’s flickering price effect is spreading mayhem in the market right now. In the middle of this, one expert has predicted a lowest threshold that Bitcoin can hit in the current cycle.
Also Read: IRFC Dips To Rs 116: Best Time To Buy the Dip?
How Low Can Bitcoin Go?
Bitcoin has noted severe fluctuations in the last 24 hours. The token has been badly hit by changing geopolitical narratives and rising trade war anticipations. Donald Trump has announced a fresh spree of tariffs, levying 25% tariffs on the EU and an additional 10% tariffs on China. This development has hit the global markets, with the cryptocurrency market taking a severe blow.
That being said, one analyst, Rager, has predicted a new low for Bitcoin considering the current market momentum and pace. Rager took to X to share his analysis, adding how it’s “normal” for Bitcoin to hit as low as $70K levels in the current market scenario.
Rager emphasized how BTC is down 27% right now. He later shared how such pullbacks are normal in bull cycles, adding that the tokens usually fall 30% to 40% in bull markets. Talking about BTC hitting $70K, Eager added how this would not be an “abnormal scenario,” as BTC will always return to its stable price value in the near future.
“$BTC is at a -27% pullback. Pretty normal in prior cycles, even during bull markets, for Bitcoin to drop -30% to -40%. Wouldn’t be abnormal to drop to mid- to low $70s. IMO, we see everything at higher prices in a month from now regardless.”
$BTC is at -27% pullback
— Rager (@Rager) February 28, 2025
Pretty normal in prior cycles, even during bull markets, for Bitcoin to drop -30% to -40%
Wouldn't be abnormal to drop to mid to low $70ks
IMO, we see everything at higher prices in a month from now regardless pic.twitter.com/NMlkTwa9ti
Also Read: Jio Financial Shares Fall 3% to 214 Levels: Time to Buy the Dip?
The Token’s Technical Report
Per CoinCodex, BTC is still aiming for the top spot. If all goes well, Bitcoin may return to its earlier price value by the end of March, possibly trading at a new high of $121K.
“According to our current Bitcoin price prediction, the price of Bitcoin is predicted to rise by 50.59% and reach $ 121,326 by March 30, 2025. Per our technical indicators, the current sentiment is bearish while the Fear & Greed Index is showing 16 (extreme fear). Bitcoin recorded 13/30 (43%) green days with 4.13% price volatility over the last 30 days. Based on the Bitcoin forecast, it’s now a bad time to buy Bitcoin.”
Also Read: Nvidia (NVDA) Stock Falls 8% Following Poor Q1 2025 Outlook