The health of the cryptocurrency ecosystem is dependent on the well-being of the cryptocurrency trading community, and the results of their trades will determine the market’s stability. I’m referring to the trade prediction of Joseph Young, a cryptocurrency trader with a net worth of $6 million who has a 20% crypto crash prediction for the market.
Bitcoin is set to crash if this trader’s 20% crypto crash forecast comes true.
A new study claims that the Bitcoin price could dip to $25,000 if a bull-run on Wall Street fails to materialize. A trader by the name of “Anthony” recently made a 20% crash prediction for Bitcoin based on short-term macroeconomic, geopolitical and quantitative analysis.. Read more about bitcoin price prediction and let us know what you think.Bitcoin (BTC) is heading for an absolute bloodbath that will take it to around $25,000, a prominent trader warns, as bullish signals for BTC/USD disappear. In characteristic direct tweets, the Cobra Crypto Twitter account warned this week that 20% of the entire crypto-currency market is about to be cut off.
Are cryptocurrencies threatening to disappear in a few days?
Bitcoin has tumbled in recent days, despite encouraging news from the Bitcoin 2021 conference, including the adoption of cryptocurrencies in Latin America. Now, after BTC/USD lost 9% overnight, the focus is not on recovery, but on a deeper price decline to hold the hands of diamond traders. According to Cobra Crypto, the size of the capitulation will be worth the $30,000 of support left over from the pullback in May. Absolute carnage in the next 5 days or you can tell me how wrong I was, he wrote on the 4th. June. The update stipulates that new losses can be marketed within 48 hours from Monday. According to him, bitcoin will not stop at the $32,000 mark. It’s not even a dump. Wait another 48 hours at most. – Cobra Crypto (@CobraCrypto) 7. June 2021 At the time of writing, BTC/USD was trading at $33,000 and bravely broke through the $32,000 level several times throughout the day on Tuesday. Cobra Crypto added that it will reduce its bitcoin investments to prices below $28,000. 1-hour candlestick chart of BTC/USD (Bitstamp). Source: TradingView
No indication of aid
Bitcoin’s troubles have now spilled over to altcoins, some of which have so far managed to defy the general downward trend and provide holders with solid profits. With the exception of Theta Fuel (TFUEL) and the Unus Sed Leo (LEO) token on the iFinex exchange, all of the top 50 crypto-currencies by market cap were lower Tuesday. A 20% reduction would bring the total cryptocurrency market to about $1.13 trillion and maintain its trillion-dollar status. Crypto Cobra wasn’t the only one predicting negative price action. According to Cointelegraph, another trader, Crypto Ed, is also betting on a further decline in bitcoin. Careful, I think we’ll get another leg down, the rebound is weak, he warned in his last update. BTC 32k or less ETH 2400 or less.Leading cryptocurrency trader Tim Enneking, who runs the Crypto Trader platform and has a track record of accurately predicting Bitcoin’s price, recently tweeted that if Bitcoin dips to $25K, then that would be a potential top in a year. The leading cryptocurrency has declined roughly 50% from its all-time high, which means that Enneking’s prediction is looking increasingly likely.. Read more about ethereum price prediction and let us know what you think.
Frequently Asked Questions
Will Bitcoin go up if stock market crashes?
The first half of 2019 has been a year of extreme volatility in the crypto markets, with a low of $1800 in January and a high of $19,400 at the beginning of June. However, that has not stopped the market from soaring to new all-time highs. The cryptocurrency market has been volatile over the past few months, and as such cryptocurrencies have been trading at a discount to their true value. But it doesn’t mean things are bad, as there is still enough liquidity to sustain a healthy market; it just means that the market is not in a bubble.
Will Bitcoin hit 20k?
Bitcoin has been on a wild ride over the past month—it’s dropped from $20,000 to $11,000 and back up to $20,000 in the span of a few short weeks, and no one can tell if it will continue to climb or fall back to earth. The cryptocurrency is worth so much more than it is today because of its status as the “internet’s reserve currency” and the fact that many investors believe it to be a good store of value. Should the price of Bitcoin drop significantly, however, it could make a lot of people reconsider. The new low may also provide an opportunity for the market to reset, allowing investors to buy in at a lower price. Less than two years after its debut, Bitcoin is showing signs of maturity. After hitting a peak price of $20,000 in December 2017, the cryptocurrency gradually fell back to $9,000 this past April, causing some to question whether Bitcoin’s long-term viability would be in jeopardy. However, Bitcoin has been on a steady rise this summer and now fluctuates between the $9,000 and $10,000 price range.
What will bitcoin be worth 2040?
Bitcoin has been described as the people’s currency, a decentralized means of payment that is free from government regulation and is a boon to those in developing nations. Its decentralized financial system allows anyone to send and receive money without needing big banks or other centralized institutions to process the transaction. It was this that attracted the attention of some of the world’s biggest businesses. No one can say for sure what will happen to Bitcoin in the future, but one thing is certain: it will be a wild ride. If you want to make money while the crypto market is going through a massive correction, it’s time to get started.
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