Bitcoin analyst who accurately predicted the lowest point in 2018 cautions about a possibly harsh period that could result in Bitcoin dropping to $10K.

Bitcoin (BTC) could potentially see a further 50% decline if Europe faces a harsh winter, according to a crypto market analyst. BTC/USD has failed to regain support at $20,000, leading to concerns about its future price. The analyst, Filbfilb, who created trading suite DecenTrader, predicts that BTC could bottom out at $10,000 in 2022. The ongoing European energy crisis is seen as a major test for risk assets, and the impact on crypto will depend on successful diplomacy to avert a major emergency in 2023. Filbfilb accurately predicted the market bottom during the last bear market in 2018 when BTC/USD reached $3,100. He believes that the current cycle differs from the previous one due to the high correlation with the “legacy” markets and external economic forces. However, he still expects a Q1 rally and is bullish on Ethereum (ETH) due to its switch to proof-of-stake. The analyst also comments on the recent collapse of 3AC and the potential impact of quantitative tightening by the Federal Reserve on BTC prices in 2023.