The good days for Bitcoin bulls seem to have to wait a bit longer. Recently, the market sentiment has been less optimistic—analysts are all saying that if the Federal Reserve continues to maintain a tightening stance, and if a US-EU trade war really breaks out, coupled with the tense international situation, Bitcoin doesn't look too good. In the short term, it might be hammered down to around $58,000.

This view actually aligns with that of an old hand in the industry. This trader has been active in the futures market for 50 years, and he foresaw the 2018 Bitcoin crash back then. He recently posted that Bitcoin is likely to fall into the $58,000–$62,000 range in the next two weeks or so.

He used technical charts to speak, pointing out that Bitcoin is clearly in a downtrend right now, with the $102,300 line pressing down hard. He was quite honest himself and said:

"I think it will drop to $58,000 to $62,000. If it doesn’t, I won’t be embarrassed, and please don’t screenshot this to mock me. Anyway, I spend half my time guessing blindly, so making mistakes is nothing new to me."

This attitude of not shying away from the possibility of being wrong is actually more convincing than those analysts who are always overly confident. In the ever-changing crypto world over the past few years, no one can always get the rhythm right. The key is to look at data, technical analysis, and macro factors together.