🔥🔥🔥Warning! Bitcoin Price Could Drop to $50,000 by Weekend for This Reason!
Prominent analysts have issued a major warning for Bitcoin price, which is likely to drop to $50,000 by the weekend.
Amid concerns and the US economic recession and the newly released August jobs data, Bitcoin has continued to fall to around $56,186.
A recent report from Bitfinex predicts that Bitcoin is likely to fall further, by around 20% to $40,000, if the Federal Reserve raises interest rates by another 50 basis points this month.
This predicts that the cryptocurrency market is expected to remain weak due to low demand and pessimistic sentiment. Notably, one analyst has issued a warning that BTC could unexpectedly drop to $50,000 by the end of the week.
How low could Bitcoin go?
As Bitcoin struggles with extreme fear as reflected by the Fear and Greed Index, Hayes’ prediction of a possible drop to $50,000 reflects the growing cautiousness and anxiety among market participants.
Furthermore, many other analysts agree that Bitcoin is set to experience an unprecedented drop this year. For example, 10x Research predicts that BTC’s low could be $40,000.
Investors are closely monitoring economic indicators and market trends, which could influence the direction of Bitcoin and the cryptocurrency market in the short term.
