BITCOIN HOLDERS *BEWARE* – THIS IS UNBELIEVABLE!!! – ETHEREUM *STILL* EXTREMELY UNDERVALUED!!?
Bitcoin will fall if the S index&P 500 will continue to decline
Bitcoin may hit $ 20,000
Bitcoin will first roll back and then go up
Investors still don’t believe in BTC
Independent trader Alessio Rastani said the bitcoin price could collapse soon. The reason for this will be the crisis in the stock market and the decrease in the S index&P 500. According to the expert, the crypto coin is still highly correlated with this index.
Bears will start to activate closer to autumn
Alessio Rastani still considers Bitcoin to be one of the most resilient assets that has shown its strength and strength during the March crisis. The expert emphasizes that the cryptomarket collapsed last, when it had practically no chance of growth due to the current situation in the global economy. However, cryptocurrencies quickly regained their value and have already fully recovered from the fall. The expert also assures that in the near future the military-technical cooperation will reach the $ 12,000 mark.
“Once bitcoin avoids 10K resistance, perhaps in the next few months, we are likely to see extreme bullish sentiment in the bitcoin community. This is especially true as we are probably approaching $ 11,000 to $ 12,000 levels, ”Rastani said..
As the crypto enthusiast assures, a reversal will follow after a rapid growth. According to Rastani, it is likely that in late August there will be a fall or correction (Wave 2) below the $ 10,000 to $ 9,000 level by September or October of this year. However, this will likely be the last time Bitcoin drops below $ 10,000. This is because once the correction ends this year, there will be a bullish multi-month rally (Wave 3) towards much higher levels in the near future – that is, from $ 14,000 this year to $ 20,000 next year – and then towards $ 30,000 to $ 50,000 in the next couple of years, Rastani is sure.
He also does not exclude that the fall in bitcoin will be due to a decrease in the S index&P500, which directly affects the stock and financial markets. And if a fall occurs, then the value of bitcoin will decrease accordingly.
Rastani himself said that he is no longer going to invest in stocks, since this market remains unreliable, but will direct his assets to invest in cryptocurrencies.
Investors don’t believe in bitcoin
Despite Rastani’s optimistic forecasts, most institutional investors do not believe in a bright future for bitcoin and prefer to bet on the market decline..
As previously reported by BeInCrypto, the number of open short positions on BTC has increased significantly. Large institutional investors are confident that the cryptocurrency market will fall. According to CryptoUnfolded, a source that monitored institutional investor activity, the number of short positions in the market increased from 650 BTC to 1,859 BTC. Institutional traders last increased their short positions to such values in February, just weeks before the March crash.
In other words, investors do not believe that Bitcoin will be able to strengthen in price in the near future and are betting on its further decline..
All information, contained on our website, published in good faith and objectivity, and for informational purposes only. The reader bears himself complete responsibility for any actions, committed by him on the basis of information, obtained from our website.