(This content is not investment advice.)
In the last 1 week, Bitcoin has experienced perhaps one of the biggest and fastest declines it has ever experienced, and all crypto currency traders have their hands and feet. Bitcoin, which fell below the 25,000 resistance point 6 days ago, fell below $ 20,000 with the previous day.
Bitcoin, which fell to the level of $ 18,000 yesterday, is traded at $ 19,000 today , but this unstable situation of Bitcoin is worrying. So what are Bitcoin experts’ comments on the future of cryptocurrency?
Experts are not very optimistic about the future of Bitcoin
Investors are very nervous as Bitcoin drops below $20,000. People cannot predict how low the cryptocurrency will fall. Ki Young Ju, cryptocurrency analyst and CEO of CryptoQuant, offered his expert insights on the subject.
We have to say that his views are not very encouraging. Ju said that 15,000 BTC inflows from Coinvase to Bitfinex. Crypto hedge funds have also filled collateral for long positions. Cryptocurrency exchanges have filled up liquidity to execute their customers’ sell orders, the expert said. For this reason, he stated that Bitcoin will fall further in the short term .
What are you thinking? Please do not forget to share your thoughts with us in the comments section.
(This content is not investment advice.)
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