Peter Brandt, an experienced trader and well-known chartist who correctly forecasted the January 2018 Bitcoin meltdown, believes it is possible for BTC to lose 40% of its value before bottoming out. 

Big Picture Perspective?

Peter Brandt estimated that Bitcoin Price would plummet to roughly $20,000 in the worst-case scenario. He demonstrated that the market had reached a high of $64,000 previously, with a subsequent drop below $30,000. According to the popular expert, Bitcoin will fall to $21,000 if the current trend continues. 

Big picture perspective on owning $BTC in appropriate size with money you can afford to lose

Market topped $64,7kf
Market corrected to $30,0k
Worst I can envision is $21,0k

Why would someone bail out of non-leveraged longs when the market already had 80% of worst case drop?

— Peter Brandt (@PeterLBrandt) June 2, 2021

While Brandt appears to be bearish on Bitcoin, he believes the chances of it reaching $100,000 or higher are better now than they were three years ago. As previously stated, Brandt forecasted on June 4 that Bitcoin had a 70% chance of increasing to $100K+, with a 30% probability of falling to $0.

When BCL began in late 2018 I thought BTC had a 50% chance for $100k, $1MM, whatever and 50% chance for zero. I am much more constructive now, call it 70%/30%, but job of bull is to shake out FOMO buyers

— Peter Brandt (@PeterLBrandt) June 4, 2021

“Come to Jesus”!

Brandt took to Twitter on May 2, 2021 to warn investors that Bitcoin and other cryptocurrencies could see a “come to Jesus” correction at some point, though he did not specify when. Investors would lose their entire “fortunes/inheritances/life savings,” according to the analyst, with the ultimate losers being those who don’t comprehend crypto and are over-leveraged.

Someday – maybe not this month, this year, this decade – $BTC & cryptos will have a “come to Jesus” correction.
Fortunes/inheritances/life savings will be lost
Losers will be:
-Those that really don’t understand cryptocurrencies & cannot stand the pain
-Those that are leveraged

— Peter Brandt (@PeterLBrandt) May 2, 2021

Over the weekend the cryptocurrencies seemed to be in the red zone as a number of crypto-related accounts were blocked on China’s Twitter-like Weibo site, as Beijing stepped up its crackdown on bitcoin trade and mining. More steps are likely, including a nexus between unlawful crypto activity in China and the United States. As a result which bitcoin fell by 8% to trade below $34,000. As of writing Bitcoin was trading at $32,892.65.

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Source: https://coinpedia.org/bitcoin/worst-case-scenario-for-bitcoin-price/