Bitcoin Drops, Here's BTC Price Analysis According to Experts

Bittime - Bitcoin (BTC) has been experiencing a downward price trend in recent times. So, what is the BTC price analysis according to experts? Come on, check out the following review!

Bitcoin (BTC) Price Predicted to Fall

The famous crypto observer, Altcoin Sherpa, has again caused a stir in the market with his quite bold predictions. According to him, Bitcoin (BTC) has the potential to fall through the $50,000 level (around Rp. 825 million) if it fails to maintain an important support level.

In his latest analysis session, Sherpa, who has 219,900 followers on the social media platform X, revealed that the crypto king is at a crucial point. There are two possible scenarios: Bitcoin soars past IDR 1.1 billion ($70,000) or it collapses to below IDR 825 million ($50,000).

Read also: Today's Bitcoin Price and BTC Movement Analysis According to Members

“This is simple: If Bitcoin breaks the current level, the gas will go straight to IDR 1.1 billion. "If not, get ready to drop to IDR 620 million," stressed Sherpa.

Sherpa added, if the Bitcoin price pattern forms a 'lower high' or lower peak, then Bitcoin will most likely decline to the level of IDR 620 million. However, he still doubts whether this pattern really occurs.

“It's scary that this is Bitcoin's 'lower high'. But apparently not yet. If so, the price will go straight to IDR 620 million. Let's just wait," he said.

When this news was written, Bitcoin was trading at IDR 921.1 million with a slight increase in the last 24 hours.

Source: Bittime

Analysis of Other Crypto Assets

Apart from Bitcoin, Sherpa also gave his views on smart contract platform Sui Network (SUI) and wireless connectivity protocol Helium (HNT). According to him, SUI looks quite promising in the short term.

Read also: BTC Rises Again above $66,000

“SUI: The 200-day exponential moving average (200 EMA) line is proving to be a strong resistance area. But I still like the look in the short term. I would aim for the IDR 14,000 to IDR 13,000 area to buy; "There are many indicators that support that level," said Sherpa. Currently, SUI is valued at IDR 13,600, down 3% in the last day.

Turning to HNT, a Solana (SOL)-based asset that uses hotspots to connect wireless devices to the network, Sherpa sees significant upside potential.

“HNT: The graphics are really beautiful, I've entered since the price was IDR 88,000. "My target is IDR 125,000, if I'm crazy it could reach IDR 156,000," he said. Currently, HNT is trading at IDR 109,000.

Also read Bitcoin to Rupiah Calculator

How to Buy Crypto on Bittime

You can buy and sell crypto assets easily and safely via Bittime. Bittime is one of Indonesia's best crypto applications, officially registered with Bappebti. 

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also ensure you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. Study Complete Guide How to Buy Crypto on Bittime. 

Monitor graphic movement of Bitcoin (BTC) price, Ethereum (ETH), Solana (SOL), and other cryptos to find out today's crypto market trends in real-time on Bittime.