While the Bitcoin (BTC) price fell to the lowest level in the last 2 months, experts explained the reason for the decrease and the price at which it will end.
Bitcoin dropped to the lowest level in the last two months, creating a panic atmosphere in the market. Expert names of the crypto money market reason for decline in the stock markets bitcoin And Ethereum (ETH) decrease in volume and low liquidity showed.
Chief investment officer of Astronaut Capital, who made a statement on the subject. Matthew Dibbemphasized that low liquidity creates an easy manipulation ground in the market with the following statements:
Currently, even major cryptocurrencies like Bitcoin seem to have paper-thin liquidity. While we can’t give a direct reason for the weakness, mid- to large-scale sell-offs are pulling the market down.
Market decline may deepen
CEO of cryptocurrency investment firm TDX Strategies Dick Lo He signaled that things could get worse. In his statement about the developments, Lo said that crypto money investors US stocks While emphasizing that it should follow closely, a decrease in that side will affect the crypto money market. may deepen the losses. suggested.
CEO says last strong support near term if downfall continues 23,100 He stated that the dollar would be:
If US stocks also start to decline, we can gain a downward momentum. The $25,200 level is an important support for Bitcoin, followed by $23,100 in potential downside momentum.
According to CoinGecko data, in the last 24 hours 4% Bitcoin, which has been falling, at the time of writing 26,350 traded in dollars.