According to analysts from Stifel, the price of Bitcoin may drop to $38,000. The price dynamics of this cryptocurrency have been compared to the plot of "The Curious Case of Benjamin Button."
In October 2022, the price of Bitcoin reached a record high of $126,000, but then fell to $67,000, which corresponds to levels recorded in November 2024.
Analyzing bearish positions, specialists concluded that the current trend indicates a possible minimum of $38,000. In their assessment, they refer to historical data: in 2011, the token's value dropped by 93%, in 2015 by 84%, in 2018 by 83%, and in 2022 by 76%. By connecting these minimums, analysts note that $38,000 could be the limit for the current decline, as explained by Stifel representatives.
“In the film and story by F. Scott Fitzgerald, on which the plot is based, Button ages in reverse against the backdrop of aging surroundings. Similarly, Bitcoin, with a fixed limit of 21 million BTC, demonstrates resilience — that is, in the analysts' view, it becomes 'younger' against the weakening dollar due to constant issuance. However, it is now beginning to 'age,' like the Button child who looks 10 but behaves like an 80-year-old,” the experts commented.
According to Professor Alexander Abramov from RANEPA, the price of Bitcoin will continue to decline in the near future. The economist links this to a lack of new investors willing to invest in conditions of increasing risks.
