Top Crypto Trader Warns Bitcoin (BTC) Could Crash Much Lower Than $20,000 – Here’s Why

Od The Daily Hodl - prije 1 godinu - Vrijeme čitanja: 2 minute

Top Crypto Trader Warns Bitcoin (BTC) Could Crash Much Lower Than $20,000 – Here’s Why

A crypto trader warns Bitcoin (BTC) could hit lower lows as a stock index tracking the performance of the 500 largest US public companies worsens.

Kripto analitičar Justin Bennett kaže njegovih 10,400 YouTube pretplatnika to Bitcoin could continue sliding downwards if the S&P 500 officially turns bearish.

“Ako vidimo medvjeđe tržište, pravo medvjeđe tržište za S&P 500 i uđemo u recesiju za koju lično mislim da smo već u recesiji, onda bismo vrlo dobro mogli vidjeti da će S&P 500 opasti za 30%, 40%, ako ne i 50%.

I gledajte, ako se BTC kreće oko 20,000 dolara dok je S&P 500 ispod svog rekordnog maksimuma za samo 19%, šta se onda događa ako S&P 500 padne za 30% ili 40% ili 50%?

We’re going to see Bitcoin a lot lower than $20,000. I can pretty much guarantee you that now.”

Bitcoin trguje na 20,016 dolara u vrijeme pisanja, što je pad od nešto više od 1% na dan.

According to Bennett, the S&P 500 index, which has demonstrated a strong correlation with Bitcoin since the market downturn started, has yet to enter bear market territory.

"Bitcoin and the S&P 500 have been tracking each other ever since this sell-off started. And right now BTC is off its all-time high by quite a bit but the S&P 500 is only off its all-time high by 19%. Twenty percent is the start of a bear market, so 19% is nothing.”

Uprkos tome Bitcoin falling below $18,000 before quickly recovering, the crypto analyst does not believe the bottom has been reached.

“Prvo i najvažnije, očigledno imamo ovaj uzlazni kanal koji se formirao ovdje od nedavnog minimuma, ovdje dolje oko 17,600 dolara.

Now I know a lot of people think that this is the macro bottom for BTC. I tend to disagree with that and I think a lot of people think this is the bottom because for a long time everybody was thinking that if we did see a bear market we’d see Bitcoin around $20,000 and then we would see a bounce.”

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