Next 6-9 Months Very Dangerous: Can Bitcoin See 50-60 Thousand Dollars? - Coin Bulletin

It is thought that the upcoming 6-9 month period will be very challenging for Bitcoin (BTC) and that the price may see levels of 50-60 thousand dollars again.

Bitcoin continues to worry investors with its significant loss in value over the past few months. The founder of the crypto hedge fund Lekker Capital, Quinn Thompson, stated in a statement that Bitcoin could drop to the level of 50,000 dollars by the end of the year. This situation means a nearly 50% decline from Bitcoin's current price level. Over the past two months, Bitcoin has surpassed 109,000 dollars and is now trading around 83,000 dollars. According to Thompson, this decline may result in a longer-term and painful fall instead of a rapid crash.

Thompson stated that there are currently no major liquidations and sudden crashes in the market, but instead a slow, long-term decline. This can become a more patient and tedious process for investors. Furthermore, Thompson described the White House's crypto policies and large Bitcoin purchases as a **just newsworthy" event, emphasizing that these situations have not led to a sustainable rise in the market.

The price of Bitcoin is directly related not only to market dynamics but also to developments in the US economy. Thompson points out that the economic policies of the Trump administration will put pressure on the economy for the next six to nine months. Noting that efforts to cut government spending could negatively impact employment, Thompson believes that this situation could also have negative effects on cryptocurrencies.

The ability of Bitcoin to maintain its current price levels or drop further may vary depending on the FED's interest rate decisions. Despite a potential interest rate cut by the end of 2024, Bitcoin has not surpassed the $110,000 level. Thompson predicts that interest rate cuts will continue in 2025, but this reduction will have a limited impact on Bitcoin.