There’s a “decent probability” that Bitcoin sees another price crash, a prominent trader says
Jake Wujastyk, VP at TrendSpider LLC, верува that the 2017-2019 monthly closes are an “inevitable area” for Bitcoin, the largest cryptocurrency to test.
Wujastyk adds that there is a decent probability that such a scenario could play out.
After hitting $19,666, the peak of the previous bull run, Bitcoin closed December 2017 at $13,880. The largest cryptocurrency entered a brutal bear market shortly after reaching its peak.
In 2019, Bitcoin experienced a significant rally in the first half of 2022, reaching a yearly high of $13,880 in July 2019. The rally wasn’t sustainable, and the largest cryptocurrency ended up closing that month at $10,760 before plunging lower in the following months.
Earlier this month, Wujastyk Истакна that Bitcoin had formed a bear flag pattern.
At press time, the largest cryptocurrency is trading at $16,561 on the Bitstamp exchange. The crypto king has now collapsed by more than 76% from its record high of $69,044 that was logged last November.
Last month, prominent trader Peter Brandt said that there still was a possibility that Bitcoin could end up паѓа на нула.
The spectacular implosion of the FTX exchange has delivered an immense blow to crypto’s reputation.
Во неодамнешно мислење published by the Wall Street Journal, American businessman Andy Kessler argues that crypto’s final price could be zero.
Source: https://u.today/trader-claims-bitcoin-may-drop-much-lower