BTC Info!!!
Senior trader: BTC price may fall back to 30,000 or even lower
On April 26, senior trader Peter Brandt wrote that Bitcoin prices may have peaked in the current bull market cycle when it hit a new high of $73,835, and he predicted prices would fall back to around $30,000 or even in 2021. Lows. He attributed this expected pullback to a phenomenon known as exponential decay, which he said would affect Bitcoin's price, which recently hit new highs, and that such a decline might be "the most profitable thing" in the long run.
Standard Chartered Bank: BTC price may fall back to 30,000
On May 1, Standard Chartered said that as the price of Bitcoin falls below $60,000, it could fall further to around $50,000. Geoffrey Kendrick, head of foreign exchange and digital assets research at Standard Chartered Bank, said, “Bitcoin prices fell below $60,000 and have now reopened the path to the $50,000-$52,000 range. Driving factors appear to be specific to cryptocurrencies and a combination of broad macro factors.”
He also said that concerns about cryptocurrencies include five consecutive days of capital outflows from US Bitcoin spot ETFs, as well as poor market response to the launch of Hong Kong Bitcoin and Ethereum spot ETFs. Bitcoin spot ETFs continue to experience fund outflows, and the average ETF purchase price is currently below $58,000, posing a risk of liquidation. “More than half of spot ETF positions are in the red, so the risk that some of these positions could be liquidated should also be considered.”
