Leading crypto Bitcoin lost altitude today and fell below $65,000. After this, some experts and analysts who expected a decline pointed lower. Peter Schiff, whom we know as the gold bug, claims that Bitcoin will not hold the $60,000 support. Elsewhere, crypto bear Crypto Capo is also waiting for below $60,000.
Peter Schiff criticized Bitcoin and claimed it would fall!
American investor Peter Schiff carried out another of his actions targeting Bitcoin, which has now become a trend. Schiff claimed that BTC could not hold the psychologically important support level at $60,000. The Bitcoin critic first began his article by speculating that gold’s pullback is over. The shiny metal is currently trading just above $2,300. But for Schiff, that value is like the new $2,000. Schiff predicts a resistance level of $2,400 for gold. He also believes this won’t continue for long. Schiff notes that Bitcoin contrasts with the outlook for gold.
Schiff, who strongly believes that gold’s pullback is likely over, says BTC is the beginning of its pullback. BTC was trading at $64,850, down 2.9% in the last 24 hours. This current price level suggests to Schiff that Bitcoin has support at $60,000. However, Schiff does not predict that Bitcoin will maintain this level for a long time. This new prediction comes about a week after the critic noted that a break below the $60,000 mark could trigger a downward spiral to around 20,000.
Crypto Capo also predicts a decline for Bitcoin
Meanwhile, Crypto Capo also shared his views after the decline in Bitcoin price. cryptokoin.comAs you follow from , Crypto Capo is famous for its bearish predictions in the market. The analyst stated that he expects the bear trend in the market to continue. He previously said that the market started to recover after the Bitcoin price absorbed some liquidity below $60,000.
However, the analyst notes that there is still liquidity for Bitcoin between $57,000 and $59,000. Therefore, he notes that BTC’s recent jump has been overextended. Hence, another downward wave awaits the market. But this wave will not result in a new local low, just a higher low. In this context, the analyst shared the following assessment:
The market has been recovering since BTC took some of the liquidity below $60k. Some altcoins experienced a new decline. But others failed to do so. This was expected. However, BTC has left liquidity between $57k and $59k and the uptrend is now overextended. We could have expected another pullback, but this downtrend failed to reach new lows, only forming a higher low. (…)
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