Bitcoin (BTC) fell again on April 10 after its rise and fell below the $ 7,000 band. The subsequent decline of Bitcoin to $ 6,700 in some crypto exchanges has raised concerns that there may be further declines.
Direction of Bitcoin Price
DonAlt, one of the most active cryptocurrency analysts on Twitter, also made an important estimate of the price movements that BTC will draw in the coming days. DonAlt plotted the possible bearish points of Bitcoin and showed the investors a bad but possible scenario.
According to the estimation of the famous analyst, if Bitcoin falls below $ 6,900, the price may sag up to $ 6,150. The worse scenario is that BTC first goes below $ 5,250 and then below $ 4,200. In fact, CEO of BitMEX cryptocurrency exchange, Arthur Hayes, had made a similar drop forecast recently. According to Hayes, although Bitcoin will go up to $ 20,000 at the end of the year, it can go down to $ 3,000 in the near term.
BTC is trading at $ 6,850 according to the press time and today, according to DonAlt’s estimate, the price may decrease to $ 6,500.