Fundstrat Global Advisors said it expects a large Bitcoin sale to occur in the near future.
The New York-based research firm believes this will be the last big drop before more buying opportunities arise.
Fundstrat believes that the leading cryptocurrency could hit its lowest level in June.
Bitcoin price slumped as low as $17,592 on June 18, marking the asset’s lowest level since December 2020. The bulls modestly rebounded after this drop.
Bitcoin fell below the $20,000 level once again today.
Recently, FS Investments Chief Market Strategist Troy Gayesk said that risky assets like Bitcoin could experience much more decline.
Bitcoin is trading at $20,068 at the time of writing, according to CoinMarketCap data.
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