Bitcoin fell below 94,000, and the crypto market plummeted; can the 90,000 mark still be maintained?
Will Bitcoin collapse?
The recent events are quite funny. Bitcoin just hit a high of 108,000, and fell down in a few days, taking the entire market with it.
Technically, it fell, but the on-chain data says that if the bulls can hold the key position, the coin can still rebound.
At the beginning, everyone thought that there would be a wave of gains before Christmas, but as soon as the bears came, Bitcoin collapsed immediately and the price plummeted. Now everyone thinks it will fall below 90,000, and the technical side is indeed not optimistic.
In the past three days, once Bitcoin fell, the three weeks of efforts of the altcoins were wasted. Seeing that the day of price discovery correction is approaching, Bitcoin can no longer hold the low support. With this fall, $1 billion in the market is gone, and the ETF lost $671.9 million in one day.
Will Bitcoin's decline be more severe?
An analyst named Crypto Rover said that the current decline is very similar to that in December last year, and it may be a good opportunity to buy. Remember the rebound led by bulls in October last year? It also fell by nearly 15% before, and then rose by 90% in the next few months, and hit a new high of 74,000. But that time it also fell by 10% before hitting the bottom.
So, if this time is the same as last time, Bitcoin will have to fall another 10%, probably to between 85,000 and 88,000. When the bulls come, it will rebound again, and it may even hit a new high of 125,000. Of course, if it rebounds from this position, it may even break 110,000, suppressing all the bearish voices.
For the next layout direction, I will lead everyone to aim at the huge profit opportunities of copycats, especially those projects with great potential. There is no problem with the expected space of more than 10 times. If you want to make a lot of money in the bull market, like + leave a message, and I will lead you to layout the entire bull market!
