A widely followed trader is laying out his worst-case scenario for Bitcoin (BTC) in the coming year.
The pseudonymous analyst Inmortal tells his 234,600 followers on X that Bitcoin may be entering a 2022-style bear market that will last until the end of 2026.
That scenario would see Bitcoin’s bear market bottom hitting the $60,000 level, a more than 35% decrease from its current value.
“This is worst case scenario in my opinion. 365 days duration: ends Q4 2026, $60,000 bottom.”
The trader says that if Bitcoin holds the $75,000 level as support it could invalidate a potential 2022-style bear market.
“$30,000 lvl (level) in 2022 = $75,000 in 2026.”
The trader also says that if Bitcoin prints a higher low price on the three-day chart a bull market structure may remain intact, setting the top crypto asset up for more rallies.
“Even if it’s small, there is still a chance that this nightmare ends in a higher low. In the worst-case scenario, if it’s a bear market, nothing falls in a straight line – lower highs do exist.”
The trader suggests that Bitcoin could surge to a new all-time high at around $135,000, a more than 44% gain from its current value, if a largely-expected bear market is avoided.
“If this happen, it will be the most hated rally ever.”
Bitcoin is trading at $92,252 at time of writing, down 0.80% in the last 24 hours.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Vadim Sadovski
