Crypto Analyst Doctor Profit Releases New Forecast Following Bitcoin Price Crash

Bitcoin's price crash from $97,000 in late February caught many by surprise. Analyst Doctor Profit, who predicted this correction, suggests a bearish outlook for Bitcoin in the short term.

Key Insights from Doctor Profit

Current downward trend in Bitcoin's price is expected to continue.
Recent volatility saw Bitcoin dip below $75,000 and recover towards $80,000.
Doctor Profit refers to the ongoing situation as a "market massacre," emphasizing that the decline has just started.
Initial buy orders are placed within the $58,000 to $68,000 range, anticipating further price drops.
The analyst bases his views on M2 money supply trends, noting that while it’s seen as bullish, its impact on Bitcoin is gradual.
He predicts a potential bull run around May or June, with targets of $120,000 to $140,000.
Current trading price is around $82,000, reflecting a 7% increase in the past 24 hours.

Technical analysis indicates critical levels at $70,000 to $74,000, which may lead to either a rally or deeper declines depending on market actions.