Bitcoin Prediction: BTC Price To Fall More, Says, Analyst
The crypto market has been extremely fluctuating these days. There were also some pretty optimistic predictions despite the high volatility but now, a more gloomy one surfaces.
A crypto trader who called BTC’s plunge below $10k said that the worst is not over yet.
BTC’s price to fall more
The trader is known in the crypto industry as The Boot and it’s worth noting that this was one of the few people to accurately predict BTC’s recent drop three days before it eventually took place.
This trader told his 22,000 followers on Twitter that he’s expecting BTC to remain below $10k.
“BTC looks pretty bad. Shorted above 10k, today might be the last time we are at 5 digits for some time. If we can close below the trendline I’d love to finally fill that 8.5k gap and go long around then. But it feels like if we go there we probably wick even lower.”
At the moment of writing this article, BTC is trading in the green on CMC and the coin is priced at $9,620.72.
Bitcoin, a safe haven
Bitcoin seems less volatile now compared to how the price was a few months ago.
We reported that Smaretreum has recently raised a question and asks its readers whether this is enough to encourage investors to run the crypto in such times of strong economic uncertainty.
The online magazine analyzed a few days ago the impact of the current and the impending economic woes on the attitude towards BTC and digital assets in general.
The online magazine’s question is whether BTC has the ability to become a safe haven for investors.
Smartereum writes, “if investors were to seek solace outside the financial markets, can bitcoin attract them? We’ve seen gold prices go up as investors look to store their value in gold during economic uncertainties.”
At the moment of writing this article, BTC is trading in the green on CMC.
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