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

Por The Daily Hodl - hai 1 ano - Tempo de lectura: 2 minutos

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.

O analista criptográfico Justin Bennett di os seus 10,400 subscritores de YouTube que Bitcoin could continue sliding downwards if the S&P 500 officially turns bearish.

"Se vemos un mercado bajista, un verdadeiro mercado bajista para o S&P 500 e entramos nunha recesión na que, persoalmente, creo que xa estamos nunha recesión, entón poderiamos ver o S&P 500 caer un 30%, 40%, se non o 50%.

E mira, se BTC rolda os 20,000 dólares mentres que o S&P 500 está fóra do seu máximo histórico en só un 19%, entón que pasa se o S&P 500 está desactivado nun 30% ou 40% ou 50%?

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

Bitcoin cotiza a $ 20,016 no momento da escritura, un pouco máis do 1% no día.

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.”

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

"Primeiro e máis importante, obviamente temos esta canle ascendente que se formou aquí a partir do mínimo recente, aquí abaixo ao redor de 17,600 dólares.

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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