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Заголовок Bitcoin Price Might Crash to $50K or Even Lower: Analysts
Дата 20240704

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Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin Price Might Crash to $50K or Even Lower: Analysts

Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin Price Might Crash to $50K or Even Lower: Analysts

Author: Martin Young

Last Updated Jul 4, 2024 @ 09:52

Crypto market researchers and analysts are warning about deeper losses as
Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin fails to hold key support levels in its latest plunge.

Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin prices plunged below support at $60,000, falling to a nine-week low of
around $57,000 during trading on July 4.

This could accelerate a potential drop to or even below $50,000, according to
Markus Thielen, founder and CEO of 10x Research.

In a note to investors on July 4, Thielen said that the psychological $60,000
level is a key level for miners and Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin Spot ETF buyers, broadly marking
the bottom of a three-month trading range.

Potential Plunge to $50K

Price declines could accelerate as support gets broken and sellers scramble
to find liquidity,” he said before adding:

“Only ill-informed traders are willing to buy here. Breaking this support
could cause a sharp decline to the low $50,000s.”

#Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin Is Crashing to $50,000 – But You Are Prepared…!!! -> here ->
https://t.co/oCgSsi3t0r pic.twitter.com/H1HY0kGkV7

— 10x Research (@10x_Research) July 4, 2024

The analyst observed poor Q3 seasonals, with August and September historically
seeing negative returns in addition to concerns about miners liquidating
inventory as prices approached their $60,000 breakeven point.

Richard Galvin, co-founder of hedge fund Digital Asset Capital Management,
commented on the political angle, stating that “The likelihood of a stronger
Democratic candidate replacing Biden who might not be pro-crypto is a factor,”
before adding:

“A bigger reason in the short term for the Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin weakness is the overhang
from Mt. Gox, and government selling.”

Crypto investor Andrew Kang predicted an even bigger drop, claiming that his
initial estimates of low $50Ks “were too conservative, and we see a more
extreme reset to $40Ks.”

He also predicted a few months of chop and down-trending during the recovery
period before a reversal of an upward trend would be possible.

In a note to investors on July 4, FxPro senior market analyst Alex
Kuptsikevich observed that the BTC price touched the lower boundary of the
descending channel and dropped below the 200-day moving average.

He concurred with the bearish predictions forecasting a further fall:

“From the current position, a 12% drop to $51.5k (February consolidation area)
is more likely than the same amount of growth to $65.8k (50-day MA).”

Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin Price Outlook

Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin prices fell to a nine-week low on Thursday, July 4. The asset has lost
5.2% over the past 24 hours and 12.6% over the past fortnight.

The next level of support lies at the $51,500 level, which appears to be
heading there.

As usual, the rest of the crypto market is being dragged down with it, and
altcoins such as Solana (SOL), Toncoin (TON), Dogecoin (DOGE), Avalanche
(AVAX), Shiba Inu (SHIB), and Chainlink (LINK) are suffering heavier losses.

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Tags: Bitcoin (BTC• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin) Price

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