• The price of Bitcoin might drop below $60,000 without refuting the bullish theory.
• The price of Ethereum can decrease by 10% if BTC remains sluggish.
• The price of ripples may fall to $0.5740, or 7%, before the next step higher.

The price of Bitcoin (BTC) has plummeted, and altcoins have tumbled. The market has seen liquidations totaling over $530 million. The premise is still optimistic, though, and the present drop is probably a good time for late bulls to buy before the next surge north.

Is the next level of Bitcoin price dumps $60,000?

The price of Bitcoin is still below the $69,000 mark, which has been capping its upward potential since November 2021. In a nose-diving Relative Strength Index (RSI), which indicates that momentum is declining, technical indicators point to a continuation of the collapse.

The Awesome Oscillator (AO) histogram bars are flashing green, indicating a bear market presence in the bitcoin market. Large red bars are also visible on the volume indicator, indicating an intensifying decline.

The bitcoin price may continue to decline, giving investors the chance to purchase at a lower price before a significant increase to the north ahead of the halving of BTC. “A 20% or 30% dip would be completely normal and healthy in a bull market, especially a month before the halving,” says @Cryptomanran, a trader and analyst on X.

In a bull market, a 20%—30 % decline would be normal and healthy, particularly one month before the halving.

We might easily go as low as $55k or $60k, which would be an incredible purchasing opportunity.

I’m still deciding whether to buy anything.

— March 15, 2024, Ran Neuner (@cryptomanran)

Investors are urged to carry out an independent investigation. In a worst-case scenario, however, the price of Bitcoin might drop below the psychological $60,000 barrier, allowing for a liquidity grab of the low of about $59,005 from March 5.

The price of Bitcoin may rise if bulls act now and purchase BTC at current prices. Investors need to wait for a candlestick close to over $64,044, which is the average threshold of the supply zone spanning from $71,290 to $73,193, to validate the upward trend. If BTC made such a move, it would be possible for it to surpass the $73,777 top and recapture the psychological level of $70,000 before hitting a new all-time high.

The prices Ethereum declined as a result of declining BTC

Notwithstanding the recent Dencun Upgrade, which was anticipated to be a bullish fundamental with a positive impact on ETH price, the price of Ethereum is plunging, directly following the lead of BTC. Given the bearish technical indicators, the price of Ethereum may continue to decline and test the $3,527 support level.

If the previously indicated level gives way as support, the price of Ethereum may fall through this buyer congestion level and hit $3,200, representing a 12% decrease from the current price.

On the other hand, Ethereum’s price can rise if the bulls make a comeback. The likelihood of the upswing continuing would increase if a substantial jump in bullish momentum and the severe resistance resulting from the equal lows of $3,722 were flipped into support. This scenario might cause ETH to rise directly to the peak of the $4,093 range.

The price of ripples is expected to fall by 7%

The price of Ripple has dropped by 15% after peaking at $0.7440 on March 11. With declining momentum and a strengthening decline, the price of XRP may drop another 7% to $0.5740 before perhaps rising.

If this level is broken, Ripple’s price could drop below the $0.5368 support level, providing bulls with yet another chance to buy.

However, if bullish momentum gains traction, the price of ripples can move in the opposite direction. More buy orders would be sparked by a move above the psychological level of $0.700, which would rekindle the trend for the price of XRP to surpass the high range of $0.7500.

A very positive scenario would see the price of Ripple hit the psychological milestone of $0.8000. This would represent a 27% increase above the existing levels.