- The crypto market appears to be falling further due to the low trade volume.
- Crypto experts believe that Bitcoin would reach down to $6,000.
- There are many factors for the dip in BTC’s price value.
The crucial reality is that BTC has dropped to $19,000, has already hit $18,000 in the last 24 hours. Owing to the low trading volume of the cryptocurrency market, investors are categorized into positive and negative sectors. Some predict that cryptocurrencies will pull back to hit highs after the bear market. While others are gloomy about the future of cryptocurrencies and Bitcoin (BTC).
Meanwhile, crypto experts are expecting that Bitcoin would reach down to $6,000 in near future. Though it is good news for investors as the price of BTC went down, it also deprives the holders as it might go to $6K level in forthcoming months. Considerably, it will be a nightmare for the holders when the price value of BTC falls down to the predicted value.
BTC At Its Buying Point
According to reports, the increase in inflationary pressures, as well as bad policy decisions by central banks worldwide, served as the catalyst for BTC reaching this level. Thus combining these factors, experts believe that the predicted fall of BTC to $6,000 will become true.
The fact that Celsius filed for bankruptcy, Three Arrows Capital was dissolved, and Luna Foundation Guard sold $2.4 billion worth of its Bitcoin reserves are other indicators of this crashdown. These elements are clearly fueling panic selling among investors while giving traders plenty of excuses for not holding onto their cryptocurrency assets.
On the other hand, this seems to be a good opportunity to buy Bitcoin in its dip. Currently, BTC is in a position where it will present investors with a generational buying opportunity (GBO). At the time of writing, BTC was trading $19,209 which is 0.98% down for the day. According to 30-day statistics, BTC is 35.6% down which has dropped from $30,000 within a month.
