RATE Group | Crypto Analyst Calls As Low As $300 Bitcoin, Cites Lack of Demand
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Crypto Analyst Calls As Low As $300 Bitcoin, Cites Lack of Demand

22 Oct Crypto Analyst Calls As Low As $300 Bitcoin, Cites Lack of Demand

Posted at 01:23h in Bitcoin News by

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While Bitcoin has risen at its peak over 350% in 2019 from its bear market bottom, the crypto asset failed to breach above a local high of $14,000 and fell short of retesting its previous all-time high of $20,000. The failure by bulls to push Bitcoin higher and reignite the FOMO from the crypto hype bubble has caused fear to take hold of crypto investors who are worried the bear market bottom isn’t actually in, and new lows may be set.

One crypto analyst, says that not only could new lows below $3,000 be set, but that Bitcoin could fall another 90% to as low as $300.

Crypto Analyst Doesn’t See Yearly Support Until $300 BTC

After a parabolic rally from April through August, Bitcoin was rejected at $14,000 and after consolidation for a few months under the resistance level, the price of the first-ever crypto-asset began to fall and is now valued at over 40% less than the local high.

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