bitcoin Some analysts think that the world’s largest crypto currency will fall to the critical level of $ 30,000 after the price of Russia fell with the possibility of Russia’s invasion of Ukraine.
As a result of geopolitical tensions, the Bitcoin price had to fall below $ 40,000. Simultaneously with these developments, the gold price rose to its highest level since June.
“Bitcoin Price Underperforms Compared to Gold: $30,000 May Be Next Level”
John Roque, director of analysis company 22V Research, said in a note about Bitcoin price:
“In the US-Russia-Ukraine events, which are the last deadlock in the world, the asset Bitcoin, which is claimed to be the solution to every problem, continues to weaken silently and underperforms its archenemy gold.”
Roque claimed that the Bitcoin price could drop below $30,000. This level was last seen in July.
“BTC Price Will Hold To $30,000”
Antoni Trenchev, one of the founders of Nexo, evaluated the current situation as follows:
“The failure of the Bitcoin price to hold onto $40,000 in the Russia-Ukraine tension means that the $30,000 level is on the agenda again. Both traditional and cryptocurrency Inflation is no longer the main price-determining factor in the market, instead geopolitical events determine the price.”
In his statement, Trenchev claimed that the $ 29,000 level observed last summer was the last line of defense, but said that he believes the price of Bitcoin will hold to $ 30,000 due to the increasing buying appetite at this level.
Katie Stockton: “The $27,200 Level Could Be Critical”
Fairlead Strategies founder Katie Stockton also stated in her technical analysis that she is not in favor of BTC in the current situation. Stockton explained that he believes the next critical test level is located at $27,200, as the BTC price fell below $37,400, which he thought was a critical level.
*Not investment advice.