The most valuable cryptocurrency by market capitalization ended May, a traditionally bullish month, in bear territory. This was mostly due to massive downward pressure on bitcoin from markets. Even without a relief rally, the bearish trend is still present, and the price could drop below the $28K mark.
In such a case, the next demand zone will be $24K. If the latter fails to hold, BTC may retest the all-time high of the 2017 bull market in the $17K-$20K range, a level that might finally act as the bear market’s bottom. The largest cryptocurrency is down 56.92 percent from its seven-month peak of $69,044 set earlier this year.
Bitcoin Price To Plunge Below $15K?
According to a recent Twitter thread, Peter Brandt believes the market is on track for its fourth 80 percent fall since 2011. Brandt made his prediction in reaction to a tweet from Cheds, a pseudonymous cryptocurrency trader and expert, who predicted that the flagship cryptocurrency might collapse to $12,000 in the near future. If that’s the case, it’ll be the first time a correction has dropped below the prior high.
Ar šis rašymas buvo naudingas?
Source: https://coinpedia.org/bitcoin/bitcoin-price-analysis-60-crash-incoming-btc-price-to-drop-at-12k/