I communicated with a big player who holds a lot of Bitcoin. He asked me, and I told him that when Bitcoin falls to around 85,000, there will be a massive surge creating the illusion of new highs. At that time, institutions, media, and various messages will flood in, boasting that it can rise to even higher prices! I, however, said that Bitcoin would consolidate and then plummet to the two levels of 68,000 and 34,000.

He said that if it drops to 68,000, many other coins in the market will disappear. I replied that it’s not necessarily the case, because there is a proportional relationship between rise and fall!

Staying around 34,000 for a long time is the constant price of Bitcoin!

The above statements are derived from technical analysis and should not be used as the basis for your trading decisions!