The price of bitcoin will continue to decline and fall to $1000, said trader and analyst Peter Brandt. In his Twitter account, he wrote that such a scenario will seem possible if you look at the chart of the first cryptocurrency without bias.

Former wall street analyst Ton Weiss also expects a decline in the rate of the main digital asset. He wrote that he placed orders to buy bitcoin at $4550 and $3550. If the price of the coin falls below, to $2750, he will invest all the money in it, the trader promised.

In his opinion, it is too early to say that the fall in the value of bitcoin has stopped, since the market is still in a downward phase. It is characterized by updating the lows, and the previous one was set a year ago at $3150, Weiss said.

At the moment, bitcoin costs $5350, in 24 hours it has fallen by 27%. Daily trading volume of the coin increased by 70% and reached $68 billion.

Yesterday, the head of Euro Pacific Capital, Peter Schiff, said that " the bitcoin bubble has burst." The trader believes that the first cryptocurrency is a "sinking ship" that will pull all its holders with it. At the same time, Bitmex CEO Arthur Hayes told why the coin's position can only get worse.