Over the past week, the price of cryptocurrency (BTC) has remained virtually unchanged. After a long bullish rally, when the price of the crypto asset sharply increased from $26,000 to $35,000 in just 2 weeks, the market went sideways. Over the past 7 days, Bitcoin quotes increased by only 1.82% and ended up at $34,736.
It should be noted that the capitalization of the digital currency reached $678.55 billion. The volume of transactions with the virtual asset over the past week amounted to $151.01 billion. Many market researchers discussed the possibility of further continuation of the former rally. However, there were many skeptics among experts who predicted a serious drop in the price of BTC to $20,000.
On the social network Twitter, as well as on the analytical platform TradingView, many experts studied the chart of the flagship cryptocurrency. They talked about how the value of cryptocurrencies could collapse and urged traders not to fall into euphoria ahead of time. The editors of Crypto.ru decided to find out the opinion of a specialist on this matter.
Deputy head of the financial technology company ONLY BANK Vitaly Kitaychuk expressed his point of view. The fact that crowd psychology and market development is exactly what can lead to worsening prices in the market. If this happens, the value of the world's main cryptocurrency will fall to $22,000 - $24,000.
