ADVFN CEO is convinced that bitcoin will fall to $ 8000 due to the FTX crash

Clem Chambers, CEO of the ADVFN blockchain platform, has predicted the value of the flagship cryptocurrency, given the fall of the crypto market. In a conversation with Stansberry Research representative Daniela Cambone, Chambers suggested that BTC $95,416.08 Bitcoin -1.79% Market capitalization $1.89 trillion VOL. 24 hours $1.67 billion would fall to $ 8000, all because of the bankruptcy of Сем Бенкман-Фрід" href="https://noworries.media/biography/sem-benkman-frid/" data-bio-id="3697">Sam Bankman-Fried's exchange, which will affect the crypto sector for a long time.

According to the head of ADVFN, the worst times for Cryptocurrencies are not over yet, so investors should be prepared for new shocks. «I don’t think all the negative things are over. People don’t realize that exchanges like FTX are bad. First, it is centralized. The fact is that cryptocurrencies were invented as a decentralized payment method. Cryptocurrency exchanges are the same banks where you put your money,» Clem Chambers shared his point of view.

Chambers emphasized: «If the dominoes of [біржі] continue to fall one after the other, you will see bitcoin go down to $ 7000 or $ 8000.» It’s worth noting that on September 12, Chambers predicted a fall in the fall of BTC to $ 17,000, and it happened. That is why some members of the cryptocurrency community currently believe Chambers' predictions.

Other analysts also expect a drop in the price of the cryptocurrency, but not to such a large extent. An expert known as Smart Contracter said that bitcoin will not soon reach its historical highs — the flagship cryptocurrency risks falling by 15% of its current value. «At this point, I believe that the BTC price increase is part of a corrective ABC wave before hitting a new low below $ 15,000 USD in the first quarter of 2023, where we will meet a long-term bottom,» the analyst tweeted.