Key facts:
The bitcoin price is now trading 51% below the all-time high it reached six months ago.
The buying force fails to overcome the selling force, which produces a fall in the price.
Bitcoin (BTC) started the week reaching its lowest price of 2022. Until then, the lowest figure it had stepped on in the year was USD 33,350 on January 24, a support that today it surpassed reaching the USD 32,000 line. This movement has generated concern in the market, where traders ask what will happen in the near future.
We have not seen the current price of bitcoin since the end of July 2021. Which is why the cryptocurrency market is currently in a state of “extreme” fear, according to the cryptocurrency index. Fear & Greed. Such a scale today touched its monthly minimum in accordance with the free fall suffered by BTC from USD 40,000 to the USD 32,000 line in the last five days.
Different investors have considered this fall as a good time to buy, as CriptoNoticias has reported, for which several have made multi-million dollar acquisitions of the cryptocurrency. Examples of this are the Luna and MicroStrategy organizations. Despite this, the level of demand has not yet been sufficient to reverse the downward movement, which is why its price could continue to fall in the coming days, according to specialists.
The analisisdeBTC Twitter account declared that, despite all the purchases that are absorbed, it doesn’t look like bitcoin has found bottom yet. So does BitcoinersLa, who warned that you have to be vigilant because the BTC crash is not over yet after a major change in structure.
The latter maintains that the price drop has been very strong, so he considers that it will continue to fall in the coming days. After that, he thinks we could be looking at a rally to maybe $37,000 and then an even deeper low than the current one with a chance to go below $30,000.
If these predictions are true, it means that bitcoin has not yet touched its minimum price for this year. Other analysts, like felixglezjim, they believe that mid-2022 will see its lowest value and then start an uptrend. In this way, it will be necessary to see how the market continues to behave on a day-to-day basis to see if this projection holds.
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Specialists give bearish predictions for the next few days and long-term bullish
Different specialists agree that the main cryptocurrency will hit lower prices for this season, but they believe that in the long term it could rise. Soamid the fear that the market is going through, have shown bullish predictions for bitcoin.
Proof of this is Plan BTC, which said: «The bitcoin prices of the following weeks will be what we will yearn for in a few years. If you see investing as a vehicle for long-term wealth, I would act accordingly.”
Who also sees value in bitcoin, despite its price drop, is the economist Natalia Motyl. “The value of bitcoin is not in whether it is worth $30,000 or $100,000, but rather that it will allow us financial and ultimate freedom from the corrosive mechanisms of impoverishment that governments have today, so BTC is always cheap!” wrote On twitter.
This was also stated by the enthusiast and entrepreneur of the ecosystem Camilo Nieto, who tweeted today: “Bitcoin on sale, half price! Be greedy when others are afraid…». Precisely at this moment, The cryptocurrency is worth 51% less than the all-time high it hit six months ago at $67,800 last November.
Along these same lines, the enthusiastic TecnoCuban shared today in the social network that, while some see the mountains, he sees a clear buying opportunity. “It all depends on the point of view in which you see things,” he concluded. Although, it is worth clarifying, that any prediction is not a guarantee that it will happen, so it is advisable to act with caution.