Sirwin
Sirwin
Is the Bitcoin market preparing for another brutal price drop?

Is the Bitcoin market preparing for another brutal price drop?

By HenryDo | CRYPTO CAPICAL | 11 Sep 2020


A well-known cryptocurrency analyst has said that Bitcoin's recent drop from $ 12,000 to $ 10,000 is warning traders and enthusiasts to "buy when the price falls" that Bitcoin's price is likely to fall " field "in the future.

Bitcoin

The anonymous industry analyst as Crypto Whale told 33,000 followers on Twitter that there is a very high chance that Bitcoin (BTC) will lose 60% more in value:

As Bitcoin and equities slowly plunge past support levels over the next few months, the popular saying followed is 'buy down'. But in reality, you won't be able to buy the discount here compared to the March low.

The analyst says BTC is likely to drop below $ 4,000, eliminating weak players ahead of the next long-term bull run to all-time highs.

As I mentioned before, chances are we'll see $ 4,000 again before reaching ATH. I also expect the dollar to recover well in the short term.

Crypto Whale added that the regulations could have a short-term impact on crypto prices and that President Donald Trump's tweeting about Bitcoin on Twitter last year caused the price to drop from $ 13,500 to $ 3,500 in eight months. . .

However, other Twitter users say that it is a false argument noting that Bitcoin started to fall in price before Trump tweeted about them. They also pointed out that the majority of Bitcoin lost was due to the stock market plunge due to the plague in March.

However, Crypto Whale believes that the regulations will be good for the cryptocurrency industry in the long run but will "destroy" Bitcoin and altcoins in the short term.

The analyst also frankly predicts a price cut for most decentralized financial (DeFi) projects. Traders need to be very careful with them, he said.

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HenryDo
HenryDo

Hôm nay tôi làm những thứ người khác không chịu làm. Để sau này tôi có những thứ người khác không có


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CRYPTO CAPICAL

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