Bitcoin Crashed Below $21,000
Bitcoin again, contrary to the hopes and efforts of the bulls, failed to grow. On Tuesday, June 14, the price of the first cryptocurrency fell below $21,000, according to TradingView .
Bitcoin hit a low of $20,816, but BTC has corrected to $22,534 at the time of writing.
A market analyst under the pseudonym “Rekt Capital” stated that Bitcoin could reach a “double macro bottom on the 200-week moving average” if the price of BTC moves like the chart below:
He added that if things really happen like the one shown on the chart, Bitcoin will form a macro day:
“BTC is very close to forming its first macro day on the 200-week MA at ~$23,000. A second macro bottom could form in about two years at a price of around $41,000.”
But some analysts argue that Bitcoin has not yet bottomed out and are warning of a sharp fall to $8,000. According to the analyst under the pseudonym “Whalemap”, if Bitcoin continues to break through the established support levels, the price of digital gold may drop to $13,000.
And market analyst Francis Hunt, also known by the pseudonym “Market Sniper”, believes that the price of Bitcoin could fall to $8,000 before hitting a real bottom.