It is no secret that many cryptocurrency have experienced a collapse in prices in recent months. As of June 18, for example, the price of the largest digital currency in the world, Bitcoin, fell to about $ 17.622. But will it go down even further in the near future?
A CryptoQuant digital currency analyst revealed the possible price of Bitcoin in the near future. CryptoQuant is a recognized resource platform for digital currencies and, according to the analyst in question, the $ 17.622 threshold may not be the all-time low for Bitcoin. However, this hypothesis is not very solid given the current level.
Many traders and investors still doubt that there will be a positive change soon. Various information states the possibility that Bitcoin still reaches a price level below $ 20.000. This scenario has prompted several digital currency holders to sell their assets. Also, before now, some major cryptocurrency companies have made tough decisions due to the bearish turn in the market.
After explaining why Bitcoin is expected to drop shortly, analyst Tomáš Hančar also concluded that it is good to buy BTC today, because soon there will be a strong rebound. But there is a drawback to be taken into account, he added. This is the likelihood that the digital token will drop below the $ 20.000 mark.
According to the data of the crypto market watch, 47 days have passed since the last new low of the Bitcoin price. Considering this fact, the analyst has suggested to traders that it will be necessary to employ a potential breakout option ...