“Bitcoin may fall much lower before recovering, it said.”, — write: www.unian.ua
Bitcoin may fall much lower before recovering, it said.
Traders are nervously watching what is happening with Bitcoin / UNIAN photoCryptocurrency prices fell after a huge rally on the back of Donald Trump’s victory in the US election. The price of Bitcoin has fallen to $90,000 per coin.Forbes writes that the price correction of cryptocurrencies “wiped out” about 200 billion dollars. Traders are nervously watching what happens to Bitcoin after crypto billionaire Michael Novogratz warned that the price could fall to $80,000 before bouncing back.
“Almost the entire cabinet owns bitcoin and is a supporter of digital assets,” Novogratz said.
At the same time, he believes that Bitcoin will eventually break the $100,000 mark per Bitcoin.
“Usually when you hit the $100,000 mark, there’s a little rebound,” he said. “I wouldn’t be surprised if we go much higher. We’re in the process of pricing. There aren’t many offers.”
However, other cryptocurrency market watchers also warn that Bitcoin could fall much lower before recovering.
“On Tuesday (November 26, – UNIAN), bitcoin fell below the $93,000 mark in the morning, deepening the corrective pullback and falling for the fourth day in a row. On Monday, a new attempt was made to raise the price above $99,000, which resulted in new sales. This is due with the geopolitical pullback turning into a broader profit-taking scenario when looking at the entire rally since November 4. This means that traders should pay more attention to bitcoin’s momentum around $91,800 (76.4% of the rally). Without proper support in this area, the cryptocurrency could fall to $87,000 (61.8%),” said FxPro chief market analyst Alex Kuptsykevych.
Bitcoin Price – Latest NewsOn November 21, Bitcoin exceeded the $98,000 mark. The cryptocurrency hit an all-time high as investors bet that Donald Trump will usher in a new era for the cryptocurrency industry.
At the same time, the value of the Bitcoin cryptocurrency in dollars as of the morning of Tuesday, November 26, is $92,613.42. In hryvnia, its price today was UAH 3,860,350.17.
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