Expert Predicts Further Downside For Bitcoin As Fear and Greed Index Drops To 10

The Bitcoin Fear and Greed Index slumped to extreme fear at 10, its lowest level since the Terra Luna crash in 2022, sparking fresh concerns among investors. Meanwhile, adding to the panic is a recent expert prediction speculating that Bitcoin is not yet off the hook and investors should prepare for further downside. 

Market Expert Predicts December Bottom For Bitcoin Price

Amid fresh woes in the market sparked by Bitcoin’s fear and greed index hitting a three-year low, market expert Timothy Peterson, in an X update, has urged investors to brace for more downside, as there is a 50%-75% chance that the premier cryptocurrency could see further dips in value. Timothy revealed this information after severe liquidations forced the Bitcoin price to slide below the $95,000 mark. Further, he also predicts that it will likely see bottom by december. 

Peterson based his predictions on how the coin reacted during the past bear market, especially in November. According to the expert, November has historically been a challenging month for the asset, as institutions typically release their Q3 earnings reports during this time. If there are signs of recession, they reallocate from risky assets like Bitcoin.

The expert cited several key examples to support his claim, including the 2018 crypto winter, which devastated the market. Another key example was the collapse of MT Gox, the largest Bitcoin exchange at the time. The expert reiterated that, although the exchange crashed in 2014, suspicious signs, including withdrawal delays, became visible as early as November 2013. Thus, if his speculations are correct, the coin’s woes could finally end after seeing bottom by december. 

Experts Torn On What Comes Next For BTC

As the Bitcoin Fear and Greed Index hits fresh lows, market experts are divided on what comes next for the most prominent cryptocurrency. The index score, which was influenced by high volatility and diminished hopes for another Fed rate cut by December, shows that investors are now highly cautious of risky assets like Bitcoin and pulling back from investing. Meanwhile, Peterson is optimistic that there is a 75% chance that BTC will stay above the $90,000 mark.

 Like Peterson, another market expert, Ted Pillows, in another X update, has called a bottom for bitcoin around the $88,000 to $90,000 mark. However, pillows added that if its price fails to hold this level, it could revisit its April 2025 low, where it crashed to $76,000.

However, unlike Peterson and Pillows, other experts, like Michael Van de Poppe, are optimistic that the asset could see a bullish reversal in the coming weeks. Additionally, Cryptoquant CEO Ki Young Ju recently stated that as long as capital continues to flow into the token, it can rebound at any time. Meanwhile, fresh capital continues to flow into Bitcoin, as Harvard University reportedly increases its Bitcoin ETF holdings to $442.8 million, a 237% rise.