macro investment strategist Lyn Alden leading cryptocurrency Bitcoin (BTC) made a frightening prediction for him.
BTC, which has already fallen by 50% from the record level in 2021, is on track to fall below $ 20,000, according to the famous analyst.
BTC Could Step Under $20,000
Aldeni emphasized that the BTC price will no longer experience extreme price movements and the market has matured.
However, according to Alden $20,000Even though the descent under the roof was seen as a development that would surprise him, the famous name stated that this is possible and expected. Stating that Bitcoin has experienced 85% decreases in the past, the analyst, who explained that a similar situation may occur this time, touched on a very frightening point.
For the time being, many indicators have shown that the bottom point has not been reached, which indicates that the bottom point is not actually reached. The market is a bit more mature right now and I would be surprised to see it go below $20,000, but it’s still a possibility.”
Alden also explained in which case the Bitcoin price could fall sharply. According to the famous macro strategist, the Federal Reserve’s increase in interest rates or monetary tightening may end everything for BTC. In addition, the freezing of credit markets and events that harm liquidity like this will make things difficult for BTC.
There is exactly a similar process going on right now, and there is talk of when the Federal Reserve will start to increase interest rates and start monetary tightening.