Bitcoin is doing well recently. Analysts from everywhere are excited about bitcoin reaching an all-time high again, and many believe that the asset is on the peak of jumping further.
Is Bitcoin about to Drop?
Some have warned that a correction is coming, and while the asset does exceptionally well as of now, it is not the time to purchase new units. Ian Balina, the chief executive of Token Metrics, stated that the price of Bitcoin could fall to a low as $14,000 in the next weeks.
In an interview, he states:
It is hard to believe at this point, considering that it is already in the first week of December, and this has not happened. But he doesn’t appear to be alone in his sentiment, for the other industry analysts have been telling their followers to lay off buying the world’s top cryptocurrency by market cap for a little while.
The chief economist at Chainalysis, Phillip Gradwell, also issued a warning, telling all that who will listen:
If the currency drops down to its price last 2017, the asset will have to shed more than $15,000 off its current price. It would be a severe loss to the asset and likely put many people back in the similar mind frame they have at the end of 2018 when after a year of steady decrease, BTC crashed and reached a price of around $3,500 per unit.
Things will be the same.
Not everyone is persuaded that the future will hold gloom and doom for bitcoin. A trader from GSR says that many investors, including him, think that the asset will maintain its bull run in the next months.