Renowned cryptanalyst predicted Bitcoin rollback to $ 6,300
- Bitcoin Expects Large-Scale Rollback To March Indicators
- The main cryptocurrency lost 15% of the cost per day
- Community blamed whales for Bitcoin price crash
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The main cryptocurrency has fallen in price by 15% per day and is trading today at $ 8,819.
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And this is just a few hours before the upcoming halving. However, as experts say, this is not the limit. Bitcoin will continue to roll back to March indicators.
Bitcoin roller coaster
Despite the fact that most experts predicted an early increase in the price of MTC to the level of $ 10,000 and above, bitcoin did not manage to stay at the reached height. As previously reported by BeInCrypto, the first cryptocurrency went into a steep peak, falling from $ 9,550 to $ 8,100 in seven minutes. Thus, the coin lost more than 15% of its value at the moment. The likely reason for the fall in cryptocurrency could be the activity of whales, which own 90% of all mined bitcoins to date. According to WhaleTrades, a service that tracks large cryptocurrency transactions, someone sold $ 2,685,542 worth of bitcoins on BitMEX in a $ XBT / USD pair about half an hour before the price collapse..
However, other experts believe that the whales have nothing to do with it. Charts have long been signaling a price drop. According to the well-known cryptanalyst, who predicted a drop in the price to $ 6400 in 2019, a further pullback in the price of bitcoin is predicted. A crypto analyst @davethewave predicts a fall in the value of BTC to $ 6329 at the end of June. On his Twitter page, he explains that the fractal predicts a drop in cryptocurrency to $ 6,400 in the coming weeks, and then another 25% drop is possible..
This means that in July of this year, Bitcoin may roll back to March values..
Bulls vs bears: who rules
In general, the bitcoin market is still dominated by a bullish trend, but after the halving, it can change to bearish. The high volatility of the coin, which always follows the halving, will be observed for several more weeks, which may ultimately lead to a sharp drop in the price.
However, cryptanalysts see another development of events related to the sharp rise in the price of bitcoin. BeInCrypto also reported that Bitcoin has already laid the foundation for potential growth to $ 40,000..
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