Analysts Predict Bitcoin Price Could Crash To $40,000, But There’s Good News
Despite initial expectations of a steady price increase and a robust bull run this year, Bitcoin (BTC) has suffered severe declines, pushing its price below the $60,000 threshold. Due to the cryptocurrency’s prolonged bearish performance, a crypto analyst has warned that Bitcoin could decline even further, predicting a potential crash below $40,000. However, the analyst also provides a silver lining to his bearish outlook, anticipating a major rebound after the decline. Bitcoin May Be Headed For A $40,000 Crash A crypto analyst known as ‘Magog PhD’ took to X (formerly Twitter) on....
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While market sentiment may remain temporarily weak after the OKEx news, a price crash looks unlikely.
Cardano (ADA) has not been left out of the massive flash crash that just occurred throughout the market. What seemed to be a good day for bitcoin as El Salvador’s “Bitcoin Day” began has now turned to nothing short of a nightmarish market opening. The crash saw bitcoin drop $6K in only a matter of hours. While the general altcoin markets have recorded crashes as high as over 20% in the same timeframe. With altcoins following bitcoin closely, the price of the ADA shows similar movement patterns to BTC following the flash crash. The number 1 crypto coin fell to the mid-$40K, taking the whole....
Whenever a bit of bad news hits the Bitcoin community, there’s always at least one individual who pops up and claims that “this is actually good news.” In the case of the IRS ruling on Bitcoin, that lone individual is Chamath Palihapitiya. Chamath is a well-respected former Facebook executive who doesn’t hold back his excitement when it comes to the possibilities created by Bitcoin. When you combine all of the holdings of all the different investment vehicles controlled by Palihapitiya, you get just under 100,000 bitcoins. While there have actually been a few others who have simply stated....