Bloomberg Expects More Drops In Bitcoin! Here are the Target Prices

The bankruptcy of FTX, the second-ranked cryptocurrency exchange after Binance, Bitcoin (BTC) including all cryptocurrenciescaused sharp declines.

regressed to $ 15,500 levels bitcoin then it went up to $18,000 with low inflation data.

BTC, which started the new week with a decline, with concerns that more exchanges will go bankrupt. Binance CEO CZAfter the shares made by , it rose to $ 16,800 levels again.

BTC’While high volatility continues in Bitcoin, Bloomberg analysts shared a new analysis of Bitcoin.

Bloomberg analysts FTX warned of new declines in Bitcoin, which lost approximately 20% in value due to the impact of the crisis.

Stating that the technical indicators on the BTC chart show that Bitcoin will fall to a level between $ 10,000 and $ 14,000, analysts noted that the $ 12,200 level is the most important support point in this range.

“Bitcoin’s 22% drop last week may not be the end of its sharp decline.

We expect the upside-down head-to-shoulder formation formed by the leading cryptocurrency BTC in 2019 and 2020 to fall into the neck region, a longer-term support area between $10,000 and $14,000.

This area also includes the critical $12,200 level. $12,200 will be the most important support level in this area.

The $12,200 level is the point at which the decline that started in April will proportionally equal the drop from the all-time high of $69,000 to the January low. “