Analyst: Wave of Desperation Could Send Bitcoin (BTC) as Low as $2,400
Following the cryptocurrency market’s recent surge that sent Bitcoin (BTC) up 10% and many other cryptocurrencies up well over 10%, the markets have experienced a bout of sideways trading. Although it is positive that Bitcoin has not surrendered much of its recent price gains, it has not been able to garner enough buying pressure to push its price any higher.
One analyst now expects Bitcoin to drop as low as $2,400 in a final wave of massive selling pressure, which could then spark a rally that could send it as high as $6,000.
The price of Bitcoin (BTC) is down 0.10% over the past 24 hours and is currently trading at $3,627.22 on Coinbase. BTC dominance is at 52.6% and the total cryptocurrency market cap is up 0.33% and is currently at $120.8 Billion.