Some analysts say that the price of Bitcoin (BTC) could drop to $27,000 in a bearish scenario if it falls through the $30,000 support area.
The potential drop to $27,000 is conditional in that BTC would have to break down below $30,500, where it strongly bounced from on Jan. 11.
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![The case for Bitcoin price dropping to $27K in a possible bearish scenario](https://d1-invdn-com.akamaized.net/content/picf4bb61a6974349120815c5143edc6801.jpg)