Bitcoin will collapse by 50%, says New Ventures top manager
Bitcoin may collapse by 50% in the near future
Experts predict a decline in cost to $ 3000
Possible drop in bitcoin will set at $ 5000
International consortium of news organizations developing transparency standards.
Over the past few days, the main cryptocurrency, Bitcoin, has been showing steady growth. After a small drawdown last week, the coin managed to win back 10% of the lost value in a day and overcome the $ 7150 mark.
Indicators point to falling BTC
Many crypto enthusiasts are confident that on the eve of the halving, the price of BTC may return to the February indicators and settle in the region of $ 10,280 – $ 10,300. However, not all experts are so optimistic. For example, cryptanalysts of New Ventures assure that if bitcoin fails to gain a foothold at the achieved level and loses 50% of its value, that is, it will roll back to the level of $ 3000. To prevent this from happening, bulls must do their best to stimulate the coin’s rally. This is especially true with an emerging bearish breakout.
The head of the trading department of New Ventures, Nicholas Pelikanos, assures that several factors at once indicate the impending fall of bitcoin. He believes that the bulls should maintain the current rate of growth in prices, otherwise the bears will return to the market. Impulse strategy indicators are starting to show a serious bearish setting, which could lead to a 50% sell-off, as a result of which the price of BTC will fall to $ 3000.
In addition, Pelicanos claims that several indicators have emerged that indicate an impending decline. In his opinion, 150 and 400 exponential moving averages crossed, and this happened twice in the history of bitcoin. Falling indices S&P 500 and Dow Jones triggered a sale.
Crypto enthusiasts are confident in the stability of the coin
However, not everyone agreed with Pelicanos’ opinion. For example, Joe DiPascale, CEO of hedge fund BitBull Capital, is confident that Bitcoin will not drop to $ 3,000 in the near term, despite the fact that the charts do signal a decline in value. In the worst case, the price of bitcoin will drop to $ 5,000, DiPascale assures. As BeInCrypto previously reported, fractals correctly predicted Bitcoin’s rise. What awaits the coin next, read here.
All information contained on our website is published in good faith and objectivity, and for informational purposes only. The reader is solely responsible for any actions he takes based on the information received on our website..
Bitcoin plummeted to $ 9,300 in just 5 minutes. CONTENT Bitcoin plummeted by nearly 9% in minutes. On BitMEX, the price was sold up to…
Bitcoin is almighty: how the cryptocurrency market reacts to the fall of the coin CONTENTS The fall in the value of bitcoin negatively affects the market in general Bitcoin…
Bitcoin: Why the Price Faces a Retreat to $ 5750 CONTENTS Bitcoin Possibly Forms a Double Top Support is located at $ 5750 and $ 4550…
Bitcoin is worthless: McAfee has drastically changed his mind about cryptocurrencies CONTENTS McAfee no longer believes in Bitcoin Former crypto enthusiast has renounced…
Bitcoin does not pose an existential threat to gold – Goldman CONTENTS Bitcoin will not harm gold, Goldman Sachs is convinced Another opinion is…