Home Business Bitcoin price is highly likely to plunge to $10,000, experts say

Bitcoin price is highly likely to plunge to $10,000, experts say

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Bitcoin price is highly likely to plunge to $10,000, experts say
Bitcoin price is highly likely to plunge to $10,000, experts say (Pixabay)

Investor research has found that the probability of Bitcoin crashing to $10,000 outweighs the likelihood that it will hit $30,000.

According to the results of the MLIV Pulse survey conducted by Bloomberg on the 5th to the 8th of the last 5-8 days by Bloomberg on the 11th, 60 % responded with $10,000.

Currently, on CoinMarketCap, a global cryptocurrency market site, Bitcoin is down 3% from 24 hours to $2615.03. More than half of investors are predicting that the Bitcoin price will halve in the future. Bitcoin has not fallen below $10,000 since September 2020. On the other hand, 40% of respondents expected the price of Bitcoin to rise to $30,000.

“This study shows just how bearish investors have turned,” Bloomberg said.

Bitcoin peaked at an all-time high of $69,000 in November last year, but has since continued a wingless decline. Investor sentiment for risky assets has contracted due to monetary tightening policies of major economies including the United States, followed by the ‘Tera/Luna collapse’ as an opportunity. The fact that central banks are developing digital currencies for digital transactions is also being discussed as a bad news in the cryptocurrency market.

In fact, according to data compiled by CoinGecko, the total market capitalization of cryptocurrencies has evaporated by about $2 trillion since the end of last year.

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