Hello Hive’s visitors, gamer’s riders’s and Cryptocurrency marketers and Hoping for another good day on the Hive blogs Thursday.
Crypto analyst Justin Bennett is warning that Bitcoin (BTC) could revisit a level in the lower teens last reached in 2020.
Bennett tells his 111,500 followers on the social media platform X that Bitcoin could plunge by nearly 50% from its current price.https://dailyhodl.com/
Using a chart showing that the flagship crypto asset has fallen out of the ascending channel that it has stuck to for about a decade, Bennett says that Bitcoin could plunge to slightly below the support level of $14,000 acting as a strong resistance zone between 2018 and 2020.
“I posted this BTC chart showing macro resistance at $29,000 – $33,000 back in March.
$31,800 was the recent swing high.
Currently BTC market is 26100$.
Currently Hive market is 0.29$.
https://dailyhodl.com/wp-content/uploads/2023/08/Plunge-Below-2022-btc.source
In my opinion we must be careful before investing in kipto currency. There is always risk in this digital currency so if you trade carefully in this market there is less chance of loss so whatever we do we will invest wisely. Investing is influenced by the incentives of others.