Crypto analyst and trader Peter BrandtBitcoin may be on its way to posting its fourth correction, up to 80% since 2011, in a new post he shared on his Twitter account.
Brandt shared his assessment in response to a tweet shared by another crypto analyst and trader, Cheds. As a result of the scary scenario Brandt shared, bitcoin priceHe claimed that the price could go as low as $12,000.
Could Bitcoin Price Be At $12,000?
If this analyst’s prediction comes true, we will see a corrective move below the previous all-time high for the first time. Although Bitcoin has been recording bullish moves from time to time lately, it quickly erases its gains towards the end of the week and becomes ‘red’ in the overall picture.
Guggenheim Chief Investment Officer Scott Minerd said last month. bitcoin He predicted that the price could eventually drop to as low as $8,000.
Mike McGlone, senior commodity strategist at Bloomberg Intelligence, sees the US Federal Reserve’s rate hikes as an important trend for Bitcoin.
The largest cryptocurrency has lost 56.92% from its record high of $69,044 seven months ago. You can follow the current price movements here.
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.