Will Bitcoin Face a Bear Market? Analyst Warns of Potential Drop

Analyst @ali_charts warns that Bitcoin could enter a bear market if its price falls below the 50-week moving average, commonly referred to as the ‘bull-bear dividing line.’ This historical pattern has been observed in previous years, including 2011, 2014, 2018, and 2020. Should Bitcoin’s price follow these past trends, a potential decline of up to 60% could occur, possibly reaching a bottom around $40,000 in the process.