Bitcoin's Price Outlook: Analyst Warns of Double-Digit Plunge while Others See No-Brainer Investment Opportunity
Crypto analyst Justin Bennett warns that Bitcoin could see a further 20% drop based on the Tether dominance chart, despite its recent rally to around $42,000, with a potential downside target of $30,000. He also notes that a strong US dollar index suggests a bullish reversal, which could put pressure on risk assets like stocks and crypto. Bennett's analysis indicates that investors may be moving their money into the US dollar and away from Bitcoin and other cryptocurrencies.