Bitcoin is sitting at a crossroads, and the crypto world is watching closely.
With prices flirting near recent highs, the pressure is on—either Bitcoin shoots past its all-time high in the next few weeks or risks a nasty correction.
Some analysts say this could be a make-or-break moment for the world’s most famous cryptocurrency.
Analyst Warns of Potential 50% Drop
Tony Severino, a well-known crypto analyst on X (formerly Twitter), has issued a sharp warning that’s getting a lot of attention.
According to him, if Bitcoin doesn’t break into new record territory soon, it might be in for a serious crash—possibly wiping out more than half of its current value.
Severino’s analysis is based on the Elliott Wave theory, and he believes Bitcoin is in a tricky pattern known as an Expanded Flat correction.
Right now, he thinks BTC is sitting in a so-called “Wave B” phase—which, historically, is often followed by a steep drop into “Wave C.”
Drawing Lessons from the 2021-2022 Crash
Severino isn’t just speculating. He points to similar behavior seen during the 2021–2022 correction, when Bitcoin’s price shot up in Wave B, only to collapse afterward in Wave C.
That drop kicked off a brutal bear market that many investors would rather forget.
Now, he’s seeing signs of history repeating itself. The recent Bitcoin price rally might look exciting, but he warns it could be a fake-out—a short-lived spike before a major reversal.
If that happens, prices could plunge to the $60,000 zone or even lower.
That would be a 50% nosedive from where Bitcoin currently sits, near $118,000.
Still Bullish, But With a Warning
To be clear, Severino isn’t a doomsayer. He still believes in Bitcoin’s long-term strength and sees a bullish “Wave 5” rally in the future.
But to get there, Bitcoin needs to break out and hit a new all-time high soon.
Otherwise, the current correction pattern might drag on—and take the rest of the crypto market down with it.
This isn’t just about Bitcoin either. A crash could delay or even derail the long-hyped altcoin season, when other cryptocurrencies typically surge in Bitcoin’s wake.
So for the whole market, what happens next matters a lot.
Another Expert Targets $129K for Bitcoin
On a more optimistic note, another analyst going by “The Crypto Professor” also shared insights on X.
He believes Bitcoin is just gearing up for another push higher.
According to his analysis, BTC could be on its way to $129,948—a target based on the 1.618 Fibonacci Extension level.
With Bitcoin currently trading above $118,000, that forecast represents a solid 9.6% potential gain.
The Crypto Professor also points to earlier consolidation zones—around $110,000 and $100,000—which now serve as support in case Bitcoin pulls back.
All Eyes on the Next Move
Whether you’re bullish or cautious, one thing is clear—Bitcoin is at a critical juncture.
A breakthrough to a new high could light a fire under the entire market.
But if the rally stalls, investors might need to brace for a sharp reset.
So, what do you think? Will Bitcoin surprise everyone with another breakout—or are we looking at another correction on the horizon?
