While the price of the admiral currency continues to fall, investors and analysts say that Bitcoin (BTC) could drop another thousand US dollars. According to the figures in CoinMarketCap, the price of Bitcoin fell from $ 7,800 to $ 7,383 overnight. It is stated that the downtrend in BTC will continue.
According to the fall forecast of the best traders of the crypto money world, BTC will lose a thousand dollars more. Meanwhile, the best crypto exchanges continue to carry huge amounts of Bitcoin.
Dutch analyst ‘Crypto Michael’ stated that Bitcoin is dropping quite rapidly and that $ 6,400 is the next level to be reached.
$ BTC the #BITCO & I #ETHERE $ ETH
Well, we’re going down -> FAST.
Already hit the levels here.
Levels below; $ 6,400 / $ 154. pic.twitter.com/xxmbr8jert
– Crypto Michaël (@CryptoMichNL) March 12, 2020
Titan Ventures’ co-founder @CryptoNekoZ is not expecting an uptrend in BTC yet. The merchant wrote in his Twitter profile that Bitcoin would probably fall below $ 7,000.
I’m sorry folks, $ BTC just doesn’t look good.
Fell out of bottom trendline of this downward channel I originally drew.
I don’t see us staying in the 7s anymore ? pic.twitter.com/apdvzmg3ts
– NekoZ (@CryptoNekoZ) March 12, 2020
Renowned crypto trader Jacob Canfield said traders should stop panicking and focus. The trader recommends that two levels of Bitcoin be monitored, 100 MA and 200 MA per week. Canfield says:
“Wait for a reaction. Be patient. No need to rush in front of a moving train. “
Meanwhile, as we have just mentioned in our news, the Bitcoin fear and greed index rose to serious figures. This indicates a good buying opportunity.
As Bitcoin continues to decline, huge amounts of BTC continue to move between unregistered wallets and crypto exchanges. This time, Whale Alert has detected two consecutive transactions worth about $ 21.7 million in Bitcoin. As is known, some of the crypto community believes that Bitcoin whales are stepping the price down to lower levels to buy cheaper BTC.
00 1,500 #BTC (11,379,841 USD) transferred from unknown wallet to the #Huob
Tx: https://t.co/IokgfYpSH5
– Whale Alert (@whale_alert) March 12, 2020
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