Bitcoin Price Likely to Drop 30% In Coming Months: Analyst

[Shahinaz]

For months now, analysts have been asking if Bitcoin’s bear trend, which brought it from $14,000 to where it is now at $7,200, has ended.

While analysts have tried to spin things positively, claiming that BTC was on the verge of preparing to break higher yet again, the cryptocurrency market continued to tumble, putting in fresh lows every few weeks. And unfortunately for bulls, according to a prominent trader, there is likely to be one more leg down for Bitcoin.

Bitcoin Poised to Return to $5,000?
BlockTV, an industry video news outlet, recently hosted Tone Vays, a former Wall Street trader turned Bitcoin educator and analyst, for a BTC price analysis segment on their show.

While Vays has started to show signs of optimism, he remarked that he still expects for BTC to see the “next low to come in [during] the first quarter of 2020.” As to where this low in the cryptocurrency market will come in, the long-time cryptocurrency trader looked to the $5,000s, claiming that there’s a high probability Bitcoin will enter that range to put in a fresh low.

more : https://en.ethereumworldnews.com/bitcoin-price-likely-drop-30-percent-months/

what is your opinion about this analysis?

[Zed0X]

It could happen. I remember some analysts saying the same thing few months ago but bitcoin bulls were able to hold the above $6K support line. These mainstream "experts", "analysts", or whatever you call them do not get it right most of the time. Their opinion of the market does not necessarily bear more weight compared to other traders prediction. That is why regardless of who says it, we should be prepared to whichever the market goes. 

[Alcor]

If this happens and Bitcoin again drops significantly in price, then interest in cryptocurrency may fall. Over the past two years, there has been a slight decrease in the level of popularity of cryptocurrency. Bitcoin will rise and fall several times in price, but it’s hard to say what will happen next.
I have more faith in the vitality and prospects of altcoins than bitcoin.

[mlawson71]

Some say it will rally, others say it will drop a lot, at this point I feel more confused than ever.

[shadowdio]

Well anytime bitcoin can drop 30% or pump 30% we really can not predict the price of bitcoin, you know how volatile it is.

[alltalk]

30% is a big amount fo sure. Some BTC holders may be suffering, especially those who need urgent money and have no choices to sell their Bitcoins. I saw that today the Bitcoin price chart showed a decrease. It looks like to continue to the next several days or even months as OP said. 

[Seerge]

Changes in the price of Bitcoin can happen at any time, but certainly we always hope that the price of Bitcoin can go up.  If there really is a 30% decline, it will really make the holders of Bitcoin suffer.