Expert Analyst Reminded Not to Forget Bear Possibility in Bitcoin: Gave Date for 70 Thousand! - Coin Bulletin

Hedge fund manager Quinn Thompson warned investors to be cautious, predicting that Bitcoin could fall to 70,000 dollars by the end of March (BTC).

Quinn Thompson, the founder of Lekker Capital, said that the recent sharp declines in the crypto market may not be over yet. He also pointed out that the general risk aversion in the stock markets, as well as the bursting of the meme coin bubble, has put pressure on Bitcoin.

As the Nasdaq index fell by 7% and Nvidia (NVDA) shares dropped by 5%, panic prevailed in the markets, and Bitcoin also suffered from this selling wave.

More decline expected in Bitcoin

Thompson emphasized that the current macroeconomic conditions have created a negative environment for Bitcoin. Pointing out that the inflation data came in hotter than expected, Thompson stated that the Fed will not cut interest rates, and he said that long-term inflation expectations are also rising.

The fund manager, who expressed that this situation will continue to suppress risky assets, added that investors in the market should see that even positive news cannot push prices up.

Thompson, stating that the $70,000 level is an important threshold for Bitcoin, said he thinks the price could fall to these levels by the end of March. Emphasizing that investors should not forget the possibility of bear markets, Thompson noted that maximum attention is required in the current environment.