Although Bitcoin (BTC) achieved great recognition by breaking record after record in 2021, it is getting stronger to maintain this performance in 2022. While the BTC price slumped below $40,000 suggesting that the rally is over, the recovery was very rapid and now everyone is focused on the $40,000 band.

Although the fact that the leading cryptocurrency can stay above the $ 40,000 band is seen as a positive signal, the risk increases every day that BTC does not exceed $ 44,000. BTC price lost 1.2% in 24 hours, retreating back to the $41,000 level and lost the $42,000 support. Analysts' views are that the support of $ 40,000 for BTC is decisive.

Famous analyst Capo, who was known for his successful predictions about BTC before, stated that he expects more decreases in both BTC and ETH prices. Capo implied that in the short term, the bottom has not yet arrived, but that $40,000 has previously acted as a bottom.

In his subsequent statement, Capo stated that $ 41,000 and $ 41,300 is a trouble-free zone for BTC. The analyst stated that he expected these levels, and immediately afterwards, BTC was withdrawn to this point.

The fact that the BTC price is withdrawn below $ 41,000 and closing daily also poses a risk, according to the analyst. This expectation of Capo may cause concern for investors in the short term.

On the other hand, it is seen that Ethereum (ETH) fell much harder and regressed to $ 3,100. This drop in ETH price shows that altcoins are more prone to a downtrend.

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Will Bitcoin Drop Again?

NewsBTC's Aayush Jindal says that if Bitcoin fails to start a fresh increase above $42,800, it could start a fresh decline. An immediate support on the downside is near the $42,200 area. The first major support is seen near the $42,000 region. A downside break below the $42,000 support zone could push the price back into the $41,200 support zone. The next major support is near $40,500, below which the bears could gain strength.