Analyst believes bitcoin may fall again, now by 40%

Ian Garnett, co-founder of Absolute Strategy Research, shared his forecasts for the near future of bitcoin: BTC is likely to drop to $ 13,000.

Ian Garnett said this in an interview with CNBC. «In an environment where liquidity is plentiful, bitcoin thrives. When this liquidity is taken away — and this is what central banks are doing now — then you see that cryptocurrency markets are under strong pressure,» Garnett said. Therefore, he believes that the No. 1 cryptocurrency will fall in price to its support zone of $ 13,000.

The opinion of the co-founder of Absolute Strategy Research is based on the experience of previous years, when bitcoin fell by about 80% from its historical highs. For example, in 2018, the cryptocurrency dropped to almost $ 3000, having peaked at almost $ 20,000 at the end of 2017.

It is precisely because of the fall in the cryptocurrency exchange rate that crypto investors' demand for bitcoin has increased. Thus, the number of holders of at least one BTC has increased by 13,091 over the past week. Obviously, they disagree with Garnett’s opinion and believe in the upcoming bull market. Changpeng Zhao Binance-nazvav-idealnyj-moment-dlya-pokupky-bitkoyina/">would be proud of them.