An eerie warning from an analyst who accurately predicted the all-time high: Will Bitcoin plummet to $38,800?

▲ Bitcoin (BTC), Investor, Crash / AI Generated Image ©

Legendary analysts who accurately predicted past Bitcoin (BTC) highs are calling the recent rally approaching $80,000 a mere bull market trick and have issued a warning that the ultimate bottom could plummet to the $38,800 level, increasing market anxiety.

According to crypto news outlet Bitcoinist on April 28 (local time), virtual asset analyst Killa, based on the Diminishing Cycle Analysis model he used to predict Bitcoin's highs, presented the final bottom of this bear market at $38,800. He previously predicted a high of $121,362 using this model, and Bitcoin actually peaked around $126,100.

Killa applied the same 5% margin of error that occurred during past high predictions to this forecast, additionally presenting two variables: $40,740 and $42,680. He assessed that even if the upper end of this error range, $42,680, is applied, the bottom would still be significantly below $60,000, thus, the $60,000 bottom theory currently discussed in some parts of the market is an overly optimistic approach.

According to this model, which relies solely on mathematics and patterns, he plans to heavily accumulate spot Bitcoin around July and August, adding that prices between $40,000 and $60,000 represent an excellent long-term buying opportunity. This suggests that the recent rally, which rose to just under $80,000 due to expectations of an end to the war between the U.S. and Iran, is likely a bull trap ultimately leading to a deeper decline.

Another renowned analyst, Dr. Profit, also maintained his existing stance that Bitcoin would crash to at least around $50,000 despite the recent uptrend. He was confident that while a short-term upward wave could reach the $83,000 to $85,000 range, a massive downward movement would inevitably follow.

In particular, Dr. Profit predicted that ahead of the Federal Open Market Committee (FOMC) meeting scheduled for April 29, the Federal Reserve is likely to cut interest rates soon, and paradoxically, this could act as a negative factor for the market, fueling a decline. According to CoinMarketCap data, Bitcoin, the number one cryptocurrency by market capitalization, has shown a downward trend over the past 24 hours and is currently trading around $77,800.

*Disclaimer: This article is for investment reference only, and we are not responsible for investment losses based on it. The content should be interpreted for informational purposes only.*