A prominent cryptocurrency analyst, known as DonAlt, has expressed a bearish outlook on Bitcoin (BTC), warning of a potential price drop. With over 60,500 subscribers on YouTube, DonAlt shared his insights on the Technical Roundup channel, predicting that Bitcoin may lose a crucial psychological support level and plummet below $60,000.

According to DonAlt, if the current price range between $60,000 and $73,800 breaks downward, it may lead to a prolonged period of downward or sideways movement, potentially lasting 120 days. In the worst-case scenario, Bitcoin's price could plummet by up to 35% from its current level, reaching as low as $44,000 to $40,000.

DonAlt believes that a weekly close above $63,000 would be a bullish sign for Bitcoin, but considers this scenario unlikely, with only a 10% chance of occurring. Currently, Bitcoin is trading at $61,705. While DonAlt's predictions may seem ominous, it is essential to remember that the cryptocurrency market is highly volatile, and prices can fluctuate rapidly.

Investors should exercise caution and conduct thorough research before making any investment decisions. The Daily Hodl encourages readers to stay informed but not to rely solely on opinions or predictions. It is crucial to understand that investments in Bitcoin, cryptocurrency, or digital assets carry risks, and any losses incurred are the individual's responsibility.

In conclusion, DonAlt's warning serves as a reminder of the potential risks in the cryptocurrency market. While predictions can be insightful, investors must remain vigilant and make informed decisions. As the market continues to evolve, it is essential to stay up-to-date with the latest developments and consider multiple perspectives before making any investment choices.