Crypto analyst Justin Bennett warns of the drop of bitcoin by 30%
However, the expert also believes that before this the first cryptocurrency may show growth up to $23 000
23.08.2022 - 10:15
417
2 min
0
What’s new? Cryptocurrency analyst Justin Bennett has reported a possible 30% drop in the bitcoin rate. According to the expert, the first cryptocurrency has fallen below its diagonal support, which has kept BTC bullish for the past few months. The analyst believes that these indicators resemble the correction of BTC in May and June this year. That said, according to Bennett, bitcoin could see a short-term rally to $23 000, then the asset’s price should drop to $19 000.
What else did the analyst add? Bennett believes that the $19 000 level will be crucial for bitcoin. It will determine whether the asset will bounce up or show an even higher low before the end of the year.
As of August 23, 09:40 UTC, BTC is trading at $21 318, having gained 1% per day, according to Binance.
Earlier, analysts at Santiment allowed the possibility of a new rise in the crypto market. According to the experts, there are a large number of short trades on exchanges at the moment, as traders fear a collapse. In their view, such a situation could give impetus to a further rise in the price of bitcoin.
Useful material?
Telegram 
Twitter Technologies
Network fees will be integrated into the cost of swaps
Nov 22, 2024
Market
The company’s unrealized profits from investing in its first cryptocurrency approached $14 billion
Nov 19, 2024
Incidents
The search, the reason for which was not announced, took place a week after the election, the results of which Polymarket users predicted quite accurately
Nov 14, 2024
Market
Analysts point to the growing popularity of the first cryptocurrency as a safe haven asset
Nov 13, 2024
Market
The product will begin trading on the Swiss Exchange on November 19
Nov 12, 2024
Market
The company’s unrealized profits from investing in the first cryptocurrency approached $13 billion
Nov 12, 2024
Cryptocurrency rates
-
Bitcoin
$98 808
BTC
+0.45%
-
Ethereum
$3 346.53
ETH
-0.03%
-
BNB Smart Chain
$579.4
BSC
+1.23%
-
Ripple
$1.59
XRP
+25.24%
-
Dogecoin
$0.411999
DOGE
+6.82%
-
Cardano
$1.08
ADA
+32.12%
-
Stellar XLM
$0.391316
XLM
+42.45%
-
Polkadot
$6.82
DOT
+15.28%
-
Bitcoin Cash
$493.7
BCH
+0.72%
-
Litecoin
$93.26
LTC
+4.48%