Here’s why Bitcoin traders say a drop to $38K is the worst case scenario
BTC’s drop to $42,230 sent a key sentiment indicator to an “extreme” low, but top traders are confident that a bounce off $38,000 would confirm the bottom. The fallout from the Federal Reserve's recent hawkish comments about raising interest rates as soon as March continued to weigh heavily on the cryptocurrency market on Jan. 6. The Crypto Fear & Greed index has been dialed down to 15 and some traders are lamenting the possible start of an extended bear market. Crypto Fear & Greed Index. Source: AlternativeData from Cointelegraph Markets Pro and TradingView shows that bears attempted to....
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The only way is (more or less) up for BTC price action, the analyst insists, offering a potential 2021 high of $450,000. Bitcoin (BTC) could trade at an eye-watering $450,000 by the end of 2021, while $135,000 would be the "worst case scenario."That's according to analyst PlanB, who on June 20 released his latest sentiment-busting bullish BTC price prognosis.Bitcoin to match all-time high in OctoberWell known as the creator of the stock-to-flow Bitcoin price forecasting models, PlanB has repeatedly bucked the overall market mood in recent weeks and months.Even as BTC/USD sees multiple....
XRP has found itself back under the microscope as bullish momentum is yet to return with full force. Another weekend is here, and XRP’s price action is still perambulating around last weekend’s flash crash, which saw the cryptocurrency register its biggest liquidation candlestick in history. Now, XRP is trying to recover to higher price levels above $2. Interestingly, one technical analysis warns that, before any major rebound, the price of XRP could suffer a severe decline, possibly down as much as 40%. While such a drop would be painful for holders, the scenario is being....
Major milestones are flowing in for BTC price action this week, with the market still below the $50,000 level. Bitcoin (BTC) at $47,000 is turning heads but is in fact only the "worst-case scenario" for one of its most popular analysts.In a tweet on Aug. 13, PlanB, creator of the stock-to-flow family of Bitcoin price models, reiterated that $47,000 should be just the beginning for BTC/USD.Bitcoin price no longer in its "worst case scenario"Following the May miner rout from China and accompanying BTC price crash, long-established price models based on the stock-to-flow principle saw a major....
Recent XRP price action has sparked a new prediction from a crypto analyst, as a potential Head and Shoulders pattern emerges on the chart. The analyst warns that this technical formation could trigger a significant price correction for XRP, describing this downturn as the worst-case scenario. Analyst Predicts XRP Price Crash To $1.15 The ‘Charting Guy,’ a pseudonymous crypto analyst on X (formerly Twitter), has unveiled a potential Head and Shoulder pattern formation on the XRP price chart. The analyst has shared insights into the implications of this technical pattern, projecting a....
The pseudonymous creator of the popular stock-to-flow (S2F) bitcoin price model, Plan B, has published his “worst case scenario for 2021” predictions on social media on Sunday. The analyst says there’s also a “more fundamental reason” to why bitcoin prices have been dropping in June and how the month of July may see “weakness” as well. Best Case Scenario: $450K Worst Case Scenario: $135K Five months ago, bitcoin (BTC) prices went parabolic and the value of the leading crypto asset seemingly was following the well known stock-to-flow (S2F) model. At....