Anonymous Altcoin trader Sherpa: BTC rate may drop to $50,000

Cryptocurrency analyst and Altcoin trader Sherpa expressed his opinion that the bitcoin (BTC) exchange rate could soon drop to the $50,000 level, despite its recent rise and reaching a new high in the local range. According to a chart posted by the trader on social network X, BTC last reached significant resistance just below the $73,951 mark, followed by the potential for a downward reversal. This prediction is based on technical analysis, where high levels could lead to a market correction.

Altcoin Sherpa suggests that after testing the upper range, the bitcoin price could return to a support level around $53,000, which corresponds to the previous local lows. This opinion is supported by the history of BTC price movement, where sharp bounces are usually followed by corrections. Such rebounds are considered part of a characteristic pattern for the cryptocurrency market.

The reason why the trader predicts exactly such dynamics is probably related to the general market situation and the activity of large players who fix profits at the current high levels. This may lead to a decrease in the price as buyers become less active. Altcoin Sherpa also uses trading volumes as an indicator – an increase in the peaks usually indicates a possible trend change.

The bitcoin market also faces other macroeconomic factors that can affect the price drop. Investors, given the current global economic conditions and the high volatility of cryptocurrencies, may prefer profit taking, which creates pressure on the exchange rate. Altcoin Sherpa’s position is in line with a more conservative outlook, indicating risks of a corrective decline despite recent gains. Nevertheless, this forecast does not rule out a subsequent recovery if bitcoin finds sustained support at lower levels.