Bitcoin's price could be cut in half with its FOMO-fueled rally set to unravel, top strategist says.
price of bitcoin is being sent higher by a rally among investors with a fear of missing out, and the token could plummet back to a level closer to $30,000 as the enthusiasm fades, according to Mizuho Securities' analyst Dan Dolev.
Speaking to CNBC on Friday, Dolev cautioned investors against buying into bitcoin's latest surge, with the price of crypto token soaring 48% to record highs since the start of the year. That's because interest in the crypto is about to fade, which could cause the price to tank to as low as $30,000, he warned, implying as much as a 54% loss from levels on Monday around $64,750.
The price of bitcoin could eventually plunge as low as $20,000 in the next "ice age" for crypto, Dolev added. That would mark a 69% drop from current levels.
