Breaking Crypto News: Bitcoin Price Prediction Signals Alarming Drop to $38K–$42K! 

Bitcoin price (BTC) witnessed a significant price movement, bringing its value down to a 5-month low of approximately $74,000 on April 7. Numerous investors ponder whether Bitcoin has reached its most affordable stage after its significant market downtrend. In the assessment of CMT-certified technical analyst Tony Severino Bitcoin has yet to reach its minimum point. Severino anticipates Bitcoin will decline to a price span between $38,000 and $42,000.

Bitcoin’s Recent Price Decline and the Market’s Outlook

The value of Bitcoin experienced unpredictable movement until it touched the low point of $74,000. Several market participants debate whether we have reached the price floor, but other experts view this decline as part of a broader market trend. Tech expert Tony Severino predicts Bitcoin will fall to $38,000 to $42,000 before the end of this period, according to his technical assessment. A detailed Bitcoin price history analysis with the Elliott Wave Theory and market movements identifies this forecast.

According to Severino, the major decrease in Bitcoin’s value does not equate to panic because this pattern aligns with market cycles. Due to its volatile nature, the digital asset market experiences standard price reevaluations. The present price activity might represent a short-term phase that could lead to a market recovery. 

Understanding the Elliott Wave Theory Behind Bitcoin’s Price Movement

Severino constructs his analysis by employing technical analysis through the Elliott Wave Theory, which evaluates market movements by interpreting them as distinct wave patterns. The price of an asset will follow a system of five predictable wave patterns during an impulsive trend, and it will complete three wave movements when entering a corrective market phase.

The Bitcoin market demonstrates standard wave patterns; its current movement belongs to the corrective segment. The price reached its all-time high at $85,000, but shortly afterward, various signs emerged indicating a market decline. Severino understands that the cryptocurrency currently exists within a corrective phase that includes three waves: starting with Wave A and then Wave B before finishing with Wave C.

Image 1- provided by Tony Severino, published on X on April 9, 2025

The data in Severino’s chart indicates that Bitcoin has finished up nearly 100% of its downward Wave A. The second flux (Wave B) will push Bitcoin price to around $62K to $65K, while Wave C will drive prices to $38,000- $42,000. This prediction area matches historical major Bitcoin bear markets from 2017, demonstrating logical forecast support.

The Impact of the Death Cross and Market Sentiment

The analysis from Severino indicates the current Bitcoin bear market might continue because the Death Cross pattern has formed. Reliable indicators suggest additional negative market movements will likely occur according to this pattern. Bitcoin will likely undergo additional price declines until it reaches strong foundation levels, provided current patterns continue. According to Severino’s analysis, the price is projected to sink into $38,000 to $42,000 over the upcoming few months, which may extend into mid-2026.

Image 2- provided by Emmaculate, published on TradingView on April 9, 2025

Though it makes some investors anxious, Bitcoin exhibits this price fluctuation because it is part of its regular market cycle, according to Severino. Bitcoin will begin a fresh growth cycle following its anticipated price dip since the next halving event is scheduled for mid-2026. 

Market predictions about Bitcoin’s future remain uncertain following its recent price slippage to $74,000 because it is premature to assume this value defines its all-time lowest valuation. Tony Severino predicts that Bitcoin will move toward $38,000 – $42,000 before completing its normal price cycle. The forecast indicates market uncertainty, but Bitcoin will demonstrate solid long-term expansion opportunities through the 2026 halving event.

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