Bitcoin Critics Say Bitcoin Will Go To $0 This Time, But These 3 Signs Suggest Otherwise By Cointelegraph

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.

• 5 indicators that traders can use to know when the cryptocurrency bear market ends

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.

Read the full article on Cointelegraph