Bitcoin Price Forecast: Analyst Warns of Potential Plunge to $30,000

Bitcoin’s price could be in for a major drop, according to Mizuho Securities’ analyst Dan Dolev. Dolev warned that the latest rally in bitcoin could soon “unravel,” potentially sending the price as low as $30,000. He even suggested that in the next crypto “ice age,” bitcoin could plummet to as low as $20,000.

Speaking to CNBC, Dolev expressed caution for investors who may be buying into the current surge in bitcoin’s price. The cryptocurrency has seen a 48% increase since the beginning of the year, reaching record highs. However, Dolev believes that this surge is driven by fear of missing out (FOMO) and that interest in bitcoin is likely to fade, leading to a significant price drop.

Dolev’s prediction goes against the bullish outlook of many bitcoin enthusiasts, who have suggested that the cryptocurrency could continue to climb higher. Some analysts have even predicted that bitcoin could reach as high as $150,000 by mid-2025.

Despite the differing opinions, it is clear that the future of bitcoin’s price remains uncertain. As the cryptocurrency market continues to evolve, investors will need to closely monitor developments to make informed decisions about their investments.