Bitcoin and cryptocurrency news generally stimulates investor curiosity. For the past six months or so, the cryptocurrency sector has been in decline under the weight of the downtrend. As things started to look up, Cheds, a crypto analyst, warns that the bearish period may resume with vengeance.
Expected downward trend for bitcoin (BTC)?
After a dizzying drop in its price a few months ago, bitcoin seems to be finally stabilizing. From $ 68,000, the crypto deteriorated and its price dropped to $ 18,000. Despite weak rallies, many investors like CZ remained confident. The big boss Binance believes in the future of crypto assets and some people agree with him.
However, the course of things does not look very favorable. In fact, the price of BTC has fallen over the past weekend with experts predicting a potential upside in the second half of 2022. With the recent release, Cheds is resolving doubts among traders and challenging some theories.
In fact, the crypto analyst recently announced to 268,000 Twitter followers that bitcoin could resume its downtrend in 48 hours. According to him, BTC is still in a bearish macroeconomic trend. So the rally from $ 17,600 to the low level should quickly end. Bitcoin should therefore soon leave its current support for trading much lower in the coming days.
Bitcoin could bottom out at $ 12,000!
The recent collapse of the cryptocurrency markets has put many investors in a quandary. While everyone knows from the ground up that crypto is a dangerous sector, no one expects a fall of this magnitude. As bitcoin began to rise in support, everyone was eagerly waiting for the uptrend to continue.
However, the dream ended soon when Terra (LUNA) fell. If the storm seemed to be calming down, it seemed like it was about to start again. According to crypto analysts Cheds, the price of bitcoin is expected to rise below $ 12,000. Already, during the day, bitcoin is down 1.51% and trading at $ 20,071 according to data from Tradingview. However, BTC is not the only one since Dogecoin, Luna crypto and XRP are in the same situation.
Remember that this analyst is not the first to mention the likelihood of a reversal of cryptocurrencies. Mike McGlone also thinks that cryptos could affect the rest of 2022. But before they get there, they will have to face a number of problems, including another period of collapse.
Cryptocurrency news is becoming more and more news. Everyone scans the charts for evidence of recovery. However, the grant doesn’t seem to make him smile since Ched is practically holding the bad news. According to the crypto analyst, bitcoin slides should resume within a day or two.
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The world is changing and adaptation is the best weapon to survive in this turbulent universe. As a crypto community manager at the base, I am interested in everything directly or indirectly related to the blockchain and its derivatives. To share my experience and share an interesting field for me, there is nothing better than writing informative and reassuring articles at the same time.