**This Veteran Trader Predicts Bitcoin Will Drop to US$62,000, Making the Market Fearful?**
Veteran trader Peter Brandt, in his post on social media X, projects that Bitcoin ($BTC ) will drop to US$58 thousand - US$62 thousand.
"US$58 thousand to US$62 thousand is the range that Bitcoin will reach. If not, I won't be ashamed, so I don't need to see your screenshots in the future. I'm wrong 50% of the time, so I don't care if I'm wrong," he tweeted on Tuesday (20/01).
To strengthen his projection, Brandt showed a daily chart of Bitcoin that looks similar to the worst crypto market crash in October 2025. Moreover, the target of US$58 thousand is just above the current price and the 200-week moving average.
In fact, other analysts like Ali Martinez agree. He predicts a price drop to US$66 thousand. This is also reinforced by Bitcoin continuing to drop to US$90,000 or a decline of 1.8% in the last 24 hours, according to CoinMarketCap.
*Disclaimer Alert. Not Financial Advice (NFA). Do Your Own Research (DYOR).*
