Bitcoin (BTC) price entered a sharp downtrend as soon as it hit $ 40,000 as many analysts and even investors predicted. Bitcoin has literally gone into free fall after reaching $ 40,000, which is seen as a psychological resistance and raising its all-time record to a fairly high level. So what are the analysts’ predictions on this issue?
The BTC / USD pair is trading at $ 37,000 as of press hour, and the decline continues at a rapid pace.
The well-known crypto money analyst is one of those who predicted the decrease in the Bitcoin price. Rager stressed that if $ 40,000 was visited in the short term, $ 34,000 could serve as support. BTC price that fell to $ 34,000, according to Rager, could experience a slight jump from here.
But in all seriousness, if this is a short term top at $40k – would look near $34k for a bounce pic.twitter.com/lxiQRTdjiL
— Josh Rager 📈 (@Josh_Rager) January 7, 2021
Byzantine General, known for examining the order books of crypto money exchanges, stated that an incredible number of sales orders were entered in many different exchanges. The analyst urged investors to “hold tight” after expressing that fear was slowly starting to manifest itself.
Massive chunks of limit sells are being put up everywhere, but they move around like crazy.
I can only interpret this as fear setting in.
— Byzantine General (@ByzGeneral) January 7, 2021