Bitcoin’s future looks uncertain, as crypto strategist Justin Bennett warns that the leading cryptocurrency could experience a significant drop in value. Bennett, who has a large following on social media, believes that if Bitcoin is unable to maintain support at $61,000, it could remain in a downward trend for an extended period. However, he suggests that if Bitcoin manages to surpass the $65,000 level on the monthly chart, it would confirm a bullish trend.

Turning his attention to Ethereum, Bennett predicts that its value against Bitcoin (ETH/BTC) is likely to decrease after failing to hold a crucial support level. He notes that ETH/BTC has broken its 2017 diagonal on both the weekly and monthly charts, indicating a potential move towards higher levels.

Bennett also issues a warning about Ethereum’s price pattern, suggesting that it may follow a similar bearish trend as seen in July 2023 if it fails to reclaim the $3,150 level on its weekly chart. He emphasizes the importance of Ethereum’s recovery this week, as failure to do so could lead to further complications.

At the time of writing, Ethereum is trading at $3,017, showing a 1.5% increase in the past 24 hours. ETH/BTC is trading at 0.048 BTC ($3,019), experiencing a slight rise during the same period.

It is essential to note that the opinions expressed in this article are not investment advice, and investors should conduct their own research before engaging in high-risk investments in Bitcoin, cryptocurrency, or digital assets. The Daily Hodl, where the article originates, does not endorse the buying or selling of any cryptocurrencies or digital assets, nor does it provide investment advice.