URGENT Bitcoin Price To DROP To $8000..
Welcome back to Steady Stack, today on the channel we are going to check details as Bitcoin price to drop to $8000, losing 70 per cent of its value, expert warns + other related news. It’s been a horror few weeks for cryptocurrency enthusiasts but the worst is yet to come, according to market analysts. One blockchain expert has warned that the world’s top-ranked cryptocurrency, bitcoin, is set to drop down to just $US8000 ($A11,000) in value. At time of writing, bitcoin was trading at $US29,500 ($A41,500).
As dire as that price is, that’s actually a 1.5 percent improvement from the day before, indicating just how much strife the crypto market is in. Cryptocurrency has been stuck in a rut for most of 2022, but it plunged to new lows for the year last week, after a stable coin plummeted by 98 per The cryptocurrency community was left reeling when terra (UST), previously among the top 10 most valuable cryptocurrencies in the world, slumped below $US1 ($A1.42) earlier this month.
The impact has been instant. Skittish investors have pulled out and it’s left the entire cryptocurrency space in distress, with bitcoin and ethereum briefly reaching levels that hadn’t been seen since June last year. Now Guggenheim Investments chief investment officer Scott Minerd warned yesterday bitcoin could continue its descent to the bottom and could fall as low as $US8000 ($A11,000). Were that to happen, it would mean the blockchain would shed around 70 per cent of its current value. However, in some good news, the CIO also said that while most crypto is “junk”, bitcoin and ethereum will survive. Stay tuned for more about Bitcoin price drop and other related news.
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