Crypto Analyst Warns Bitcoin Could Nuke If One Critical Support Level Crumbles: 'I Think This Is Going To Collapse'
Portfolio Pulse from Bibhu Pattnaik
Cryptocurrency analyst DonAlt has warned that Bitcoin (BTC) could face a potential collapse of up to 30% if it loses the key $30,000 level. The analyst believes that the impact of recent positive developments, such as the submission of Bitcoin spot ETF applications and a significant ruling related to XRP, could fade, leading to a sharp decline in BTC's value. However, he also suggested that altcoins might retain some momentum, even in the event of a gradual decline over the next few days.
July 15, 2023 | 7:34 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Bitcoin could face a potential collapse of up to 30% if it loses the key $30,000 level, according to crypto analyst DonAlt. However, altcoins might retain some momentum.
The analyst's prediction of a potential collapse in Bitcoin's value if it loses the key $30,000 level could lead to a negative short-term impact on the cryptocurrency. However, the potential for altcoins to retain momentum could mitigate some of this impact.
CONFIDENCE 70
IMPORTANCE 80
RELEVANCE 100