As the clock ticks, the start of the crypto bear market shed light on the “dead” crowd that gleefully announced the end of the largest cryptocurrency by market cap.
If #Bitcoin can collapse 70% from $69,000 to below $21,000, it could easily drop another 70% to $6,000. Given the excessive leverage in #crypto, imagine forced sales that would occur during a sale of this size. 3000 USD is the most likely target price.
– Peter Schiff (@PeterSchiff) June 14, 2022
If #Bitcoin can drop 70% from $69,000 to below $21,000, it could drop another 70% to $6,000. Given the excessive leverage of cryptocurrencies, imagine the forced selloff that would occur during a selloff of this magnitude. $3000 is the most likely target price.
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Indeed, the past few months have been painful for investors and its price has fallen to a new low in 2022 at $20,100, but other calls for the asset’s demise are likely to suffer the same fate as the 452 previous forecasts that pronounced it dead.
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