Bitcoin is predicted to fall significantly to $ 52,000

Experts from 10x Research have modeled the movement of the bitcoin rate in the coming weeks. The analysts concluded that the flagship cryptocurrency will fall to $ 52,000.

10x Research drew an analogy with the bull rally of 2017, believing that it is premature to buy bitcoin now. The analysts cited the decline in trading activity on the market as a key factor. 10x Research experts also noticed the outflow of funds from spot bitcoin ETFs, which has been going on for the past few days.

At the same time, 10x Research analysts also pointed out that after the price of BTC $55,696.89 Bitcoin -2.70% Market capitalization $1.1 trillion VOL. 24 hours $2.68 billion drops to $ 52,000, the price will rise to at least $ 106,000. The reason: the upcoming halving.

It is worth noting that the bitcoin rate fell by $ 10,000 over the week, a drop that occurred after reaching an all-time high on March 12, when the BTC price exceeded $ 73,000. Immediately after reaching the peak, a pullback began, reaching $ 63,426.

On Wednesday, March 20, the price of BTC increased by 10% per day. The recovery may have been facilitated by the Federal Reserve’s decision on the key interest rate. For the fifth time, the regulator kept the base rate in the range of 5.25−5.5%. In addition, Fed Chairman Jerome Powell hinted at the possibility of a cut this year.