An analyst had a close track of the market and predicted a significant retracement for Bitcoin (BTC) and altcoins, which will drive the total crypto market cap to sink below the $1 trillion level.
Bitcoin is on track for a harder drop as it sank to $31,321. But there are always surprises, at lower levels, BTC could identify a new distribution zone to enter the bull.
Bitcoin price has plunged more than 63% in the past 7 months. However, on-chain metrics show that the leading cryptocurrency will fall deeper before bottoming out.
