#BTC falls below $60K - buy the dip or wait? #

Bitcoin collapsed: Analysts say the decline is not over yet!
The price of Bitcoin (BTC) dropped to $53,600 with the start of Mt.Gox transfers.

BTC, although it has seen the lowest level since February, analysts expressed that the bad scenario is not over. Josh Gilbert, market analyst at eToro, speaking to Cointelegraph, said that a large part of the sales could be due to the repayments of Mt. Gox creditors. Along with these repayments, approximately 8 billion dollars worth of BTC will enter the market from this month.
Bitcoin can test 50,000 dollars
Gilbert said he expects the price movements to worsen in the coming days following the sudden drop of Bitcoin to the level of $53,600. Gilbert said, "The news flow is currently more downward than upward, and the selling activity we see is clearly unsettling investors, which usually leads to more selling."

"BTC testing $50,000 wouldn't surprise me, but it will be an important level," he added.

Similarly, Swyftx analyst Pav Hundal also told Cointelegraph in a statement that the worst may not have come yet in Bitcoin's price movements.
"The critical support levels in Bitcoin are facing an indifferent market. Long-term macro conditions are still positive, but in the short term, we may test $50,000 and potentially lower levels. $52,000 is currently an important battleground for bears and bulls," said Hundal.

10x Research analysts also predicted that the price of Bitcoin could drop as low as $50,000 in the coming weeks, warning that selling could accelerate as support breaks and sellers struggle to find liquidity.

Analysts' opinions that the downward scenario will continue have scared cryptocurrency investors. Investors are focused on $50,000 for BTC.