Bitwise’s Dragosch sees up to 20% further downside for bitcoin, puts ‘max pain’ scenario at $48,000
Hex37's read
- Bitwise's Dragosch predicts up to 20% further downside for Bitcoin.
- The "max pain" scenario for Bitcoin is seen at $48,000.
- This level aligns with the long-term holder cost basis.
What it means for traders
- Potential for a short-term bearish trend, traders may consider short positions.
- A price target of $48,000 could act as a significant support level if reached.
Affected markets
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