Bitcoin (BTC) With the price movements in the last week, it made the new ones watch the trailer of what can be seen in the bear market.
Although the decline of the leading cryptocurrency from $ 48,000 to $ 41,000 has already panicked some investors, experienced people know that the decline may continue.
So where exactly will this blood loss end?
Where Will Bitcoin Stop?
The BTC/USD parity has lost the support of $ 42,000 as of now, and some exchanges have stepped to the level of $ 41,000. Losing the critical $42,000 at the daily close could make the business even more difficult. A famous analyst, on the other hand, explained where the fall of BTC will stop in pinpoint prediction.
Popular cryptocurrency analyst Smart Contracter, In a statement to his followers, he stated that he expected a sharp decline and then a rise.
The analyst said that he examined the chart in 2019 and according to this, BTC actually $37,500 He stated that he could make a dip in the levels. The analyst stated that this structure has been seen before and that we expect a rise again after $ 37,500.
i think #btc bottoms anywhere between now and 37.5k and gives us a similar structure to what we saw in 2019 just on a larger timescale, with a run to 100k still on the table for 2022 imo. pic.twitter.com/64WniL0bG1
— Bluntz (@SmartContracter) January 7, 2022
According to Smart Contracter’s opinion, BTC is still open for the much anticipated $100,000. Analyst, your $100,000 Although he stated that it will be seen in 2022, he revealed that $ 37,500 will be tested first.
BTC’s decline to $37,500 is actually looking at the loss of a single support. A low-volume close below $42,000 can push the price below $40,000 in a short time, and panic selling here can lead to the expected point within minutes.