Bitcoin is predicted to fall by 20−40% by the end of the year

Given the economic situation in the United States, where a recession is expected in the near future, the price of the No. 1 cryptocurrency will continue to fall, according to analysts at Cane Island Alternative Advisors.

«The probability of a recession in the US has increased to 70%. If this is the case, the markets could lose up to 40% of their capital starting in mid-July, and this also applies to cryptocurrencies,» said Timothy Peterson, an employee of the analytical company.

Earlier, Peterson had already given his estimates of the market and predicted that the second quarter would be a big shock for bitcoin. He was right — bitcoin has shown its worst performance in more than a decade. The largest cryptocurrency’s 58% decline is the worst since the third quarter of 2011, when bitcoin was still in its infancy.