Bitcoin Plunge Could Continue for Next Quarter: Experts Warn of Further 30% Decline

Bitcoin's recent price drop has left many wondering if it's just the beginning of a further decline. Experts predict that Bitcoin could fall another 30% to $42,000 by year-end.

The current bear market has already pushed Bitcoin prices over 50% below last year's peak, with futures dropping to $58,995 on Thursday. This drop is attributed in part to profit booking across assets and rising AI investments.

According to Nischal Shetty, founder of WazirX, the current decline is a result of investors reducing exposure to macro trades across markets. 'Over the last few days, we have seen profit booking across assets that had rallied on geopolitical uncertainty and liquidity expectations,' he says.

Jiang Zhuoer, one of China's best-known bitcoin miners, also predicts a further decline in Bitcoin prices, forecasting it will trade in the $42,000, $44,000 range sometime between October and December.