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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Featured Image: Shutterstock/Vadim Sadovski