bitcoin The crypto money market, especially (BTC), has been drawing a positive picture in recent days. However, despite these developments, a financial analyst shared a frightening collapse scenario for the BTC price, showing an important threshold.
CEO of ADVFN with a global audience Clem Chambersconducted an interview with Daniela Cambone on Stansberry Research. in the interview Bitcoin price predictionChambers, who shared his views on the issue, suggested that if a move towards the $ 17,000 level occurs, the price could fall to a frightening level of $ 10,000.
Although the date of this interview may seem old at first, we would like to underline that the interview was recorded yesterday, September 12. So why did Chambers make such a prediction?
“If it breaks down strongly between $18,000-17,000, the next leg will go down to $10,000. If it starts to rise strongly from here, it will probably easily go to $40,000 doing this ‘W’.”
However, saying that the $10,000 bearish scenario is more likely in his view, the CEO frightened investors in this sense.
Interestingly, in May 2021, when Bitcoin was trading around $38,000, Chambers had successfully predicted that it had gone through its four-year cycle. Koinfinans.com As we have previously reported, he stated that in this cycle, Bitcoin will hit the lows of $ 10,000 before returning to the all-time high of $ 120,000.
Current price action from here you can follow.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.