Sentiment around Bitcoin has suffered a major hit in recent weeks after the price fell below $100,000. This has led to a series of bearish predictions for the cryptocurrency, as many analysts and investors alike believe that the crash is far from over. One analyst, who goes by Mr. Wall Street on the X (formerly Twitter) platform, has predicted a step decline, revealing how low the Bitcoin price will go and when the crash should be expected to be over.
Bitcoin Headed below $60,000?
In the post, Mr. Wall Street expressed that the Bitcoin price has already hit its cycle top, and as such, there is nowhere else to go but down. The chart points to possible price reversals for the cryptocurrency, but ultimately, all of these are expected to be short-lived and precede further crashes.
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As the Bitcoin price struggles to reclaim $100,000, the crypto analyst warns that it is more likely to crash further, highlighting the $74,000-$82,000 level as the next major point of interest. This would mean that Bitcoin could see a more than 10% drop in price from this level.
However, the analyst doesn’t stop there ,as it seems the Bitcoin price is headed into another stretch of bear market. The year is already rapidly coming to an end, and the crypto analyst expects the year 2026 to be even more bearish.
By next year, Mr. Wall Street believes that the Bitcoin price could fall below $60,000, reaching as low as $54,000. The timeframe for this is set in the last quarter of 2026, but this would also mark the bottom. Given this, the analyst believes that the $54,000-$60,000 will be the best time to get into the asset to position for the next wave of upward movements.
Head And Shoulders Pattern Supports Decline
The bearish sentiment is echoed by others such as Leshka.eth, whose recent analysis also points to a possible drop in price. The analyst shows that Bitcoin completed a head and shoulders pattern, with the neckline firmly in place. Given this, the price has entered into a state of reset, and this reset is far from over.
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Interestingly, Leshka.eth also posits that the Bitcoin price will crash by over 40% from its all-time high prices. This was highlighted in an earlier post that predicts that BTC is headed for as low as $40,000. The timeline also suggests that this will happen sometime in 2026, before a bottom is established.
Featured image from Dall.E, chart from TradingView.com
