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Encryption Tony Severino He has warned that the price of bitcoin risks another collapse. This came when a decisive artistic index revealed, which turned into the landing to the main encryption, although it indicated that BTC Bulls could still nullify this current declining setting.
Bitcoin price is at a risk of further collapse as S& P
in X postCevirino indicated that the price of bitcoin can collapse more as the S&P 500 LMACD started crossing down and turned the graph to red. This development is as important as Intothheblock data shows that BTC and the stock market You still have a strong positive relationship to prices.
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The encryption analyst stated that BTC Bulls can transform this decrease in the next twenty days of Bitcoin, as the spacing will lead to a bullish preparation instead. However, the failure of the bulls to convert this to bitcoin can lead to a Tremendous decrease For the main encryption, worse than he has already seen.
Cevirino stated that confirming this decreased preparation at the end of the month can start a Bear market Or the type of black swan, similar to what happened when the last two transitions occurred. It should be noted that BTC has already disrupted to $ 76,000 recently, raising fears that the bear market may be here.
However, encryption experts like Participate founder of Bitmex Arthur Hayes They suggested that the emerging market is still in good condition for bitcoin. Hayes noted that BTC has corrected about 30 % of its highest level (ATH), which he noticed was normal in the bull race. Bitmex founder predicts that the main encryption will refresh as soon as the American Federal Reserve begins to reduce its monetary policies.
BTC still looks good despite the recent collapse
Encryption Kevin Capital He suggested that the price of bitcoin still looks good despite the recent collapse. In his latest updates on the market, he stated that BTC is still the best -looking graph and that everything is going according to the leading Crypto plan. The analyst predicts that bitcoin can still decrease and test the range between $ 70,000 and $ 75,000, which claims to remain completely good.
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Kevin Capital noticed that the price of bitcoin can remain standing on his feet if he carries the main market structure and reset MACD for 3 days. He added that some decent macro data can help the main encryption stay over the main support levels. the American CPI data It will be released today, which can provide some comfort for the market if it shows that inflation slows down. The analyst is confident that the report of good inflation and FOMC can help in the heart of the tide.
At the time of this report, Bitcoin price is traded by about 81,860 dollars, an increase of more than 2 % in the past 24 hours, according to Data From Coinmarketcap.
Distinctive image from Adobe Stock, Chart from TradingView.com
