[Analysts Debate Whether Bitcoin is in a 'Sell in May' Bear Market Pattern] According to Cointelegraph, analysts are divided on whether Bitcoin will experience a historic plunge again in May. In May 2018, Bitcoin dropped from nearly $10,000 to around $7,000, and in May 2022, it fell from approximately $40,000 to $28,500—both occurring during bear market cycles in U.S. midterm election years. Analyst Merlijn Enkelaar stated that if history repeats itself, Bitcoin could drop to $33,000. Alphractal founder Joao Wedson noted that if Bitcoin remains below $78,000, a new round of capitulation-style declines could occur.