RATE Group | Peter Schiff confirmed that BTC would not go negative
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Peter Schiff confirmed that BTC would not go negative

22 Apr Peter Schiff confirmed that BTC would not go negative

Posted at 12:45h in Bitcoin News by

  • Bitcoin may lose 100% of its value, but it won’t go to zero.
  • BTC/USD needs to clear $7,000 for the upside to gain traction.

Bitcoin has regained some ground on Wednesday, though it is still hovering below a critical level of $7,000. The first digital asset has gained 1.6% since the start of the day and over 2% on a day-to-day basis. Despite the recovery, Bitcoin is moving within the short-term bearish trend, which means we may see more sell-off before another bullish leg. 

According to Intotheblock data, over 52% of Bitcoin addresses are in the money now. A cluster of 1.65 million addresses with nearly 830k BTC are waiting for the price to enter $7,050-$7,375 range as this development will bring them to a break-even point. The number of large transactions has decreased slightly together with the volume of such transactions, while stayed at 56.28% from the historical high 139.65 hit on April 6.

Bitcoin won’t go negative

Cryptocurrency investors and traders…

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