Bitcoin will collapse by 50%, says New Ventures top manager

Bitcoin will collapse by 50%, says New Ventures top manager
CONTENT

  • 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

Bitcoin will collapse by 50%, says New Ventures top manager

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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

 

Bitcoin will collapse by 50%, says New Ventures top manager

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.

Bitcoin will collapse by 50%, says New Ventures top manager

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.

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