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If a Bear Market in Bitcoin Starts Today, How Far Would BTC Price Fall? How Long Will the Bear Market Last?

If a Bear Market in Bitcoin Starts Today, How Far Would BTC Price Fall? How Long Will the Bear Market Last?
Renowned cryptocurrency analyst Timothy Peterson has presented a hypothetical bear market scenario for Bitcoin. He suggests that a potential decline could be triggered by macroeconomic factors such as the US Federal Reserve's decision not to cut interest rates this year. Making comparisons to past Nasdaq declines, Peterson estimates that if Bitcoin follows a similar pattern, it could see a 33% drop, lowering its price to around $57,000. However, he notes that psychological market behavior often prevents assets from reaching projected lows. Peterson believes that the current market is not in a state of euphoric overvaluation and that significant capital continues to be allocated to cash and fixed-income assets. He also points out that investor sentiment is currently extremely bearish, which historically has been a strong buy signal. Nonetheless, Peterson does not believe that a downturn is imminent.

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