Experts Fear Market Crisis Will Cause Bitcoin To Go Under $30,000
- Financial market crisis has caused experts to raise confusion over buying and selling of Bitcoin.
- Despite the plunge, some experts still believe that BTC price will surpass $100k.
- History suggests that BTC has an almost similar downward trend after a price spike
Bitcoin’s price has fallen slightly below $40,000 since Monday. Rising inflation, geopolitical upheavals, and changes in monetary policy can all contribute to this.
Some experts and analysts believe that this drop may cause more short-term instability in the cryptocurrency and stock markets.
“In this particular moment in time we are living under, I would say, global uncertainty in the markets, not just the crypto markets, also in the stock markets” @paoloardoino https://t.co/JlPovalG4e
— Bitfinex (@bitfinex) April 15, 2022
Bitfinex’s Hong Kong-based cryptocurrency The trading team shared,
Volatility will most likely return to Bitcoin – and the incumbent financial markets – amid continuing geopolitical risks and growing concerns on the economic outlook
Bitcoin’s price has ranged between $39,000 to $45,000 in the last seven days. And as of writing, its market value has increased by 4.73%, with its market price standing at over $40,000.
Though Bitcoin has undergone ups and downs since then, many analysts believe the price of Bitcoin will eventually surpass $100,000.
Talking in terms of volatility, the last time Bitcoin reached a record high in mid-April 2021, it unexpectedly lost more than half of its value and fell to roughly $30,000 by mid-July. Similarly, Bitcoin fell below $35,000 this month, just a few months after reaching a new high in November.
Advice from Experts
Experts advise investors to restrict their crypto investments to less than 5%.
Humphrey Yang, the personal financial guru at Humphrey Talks, stated that these things are highly unpredictable, and the market can go down to even 80%. “But if you believe in the long-term potential of [Bitcoin], just don’t check on it. That’s the best thing you can do,” said Yang.
Given the volatility of the cryptocurrency in the past, this spike does not suggest a long-term reversal. The price of Bitcoin is just as likely to fall as it is to increase again. Bitcoin’s future will almost probably include a lot more volatility, which experts say long-term crypto investors will have to accept.
Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.
Read more: https://coinquora.com/experts-fear-market-crisis-will-cause-bitcoin-to-go-under-30000/
Text source: News – CoinQuora – Latest Cryptocurrency and Block
