Marcus Thielen: bitcoin will fall to $ 50,000

Біллі Маркус" href="https://noworries.news/biography/billi-markus/" data-bio-id="3704">Marcus Thielen, CEO of 10x Research, believes that the price of bitcoin BTC $62,292.59 Bitcoin 0.18% Market capitalization $1.23 trillion VOL. 24 hours $0.43 billion may fall to $ 50,000. According to him, the market leader «broke through the technical and psychological levels of $ 60,000,» which marks the bottom of a three-month trading range and is a key level for miners and buyers of spot bitcoin ETFs.

Thielen emphasizes that the price drop could accelerate as «support is broken and sellers start looking for liquidity.» «Only poorly informed traders are willing to buy in such conditions,» the crypto expert says. He warns that breaking through this support level could lead to a sharp drop to $ 50,000.

The analyst emphasized that the number of bitcoin buyers in the market has decreased, while sales of the first cryptocurrency have increased sharply. «The recovery of the BTC rate to $ 60,000 is unlikely in the short term, as there are no factors on the market that contribute to the resumption of the bitcoin rally,» the director of 10x Research concluded.

Earlier, CryptoQuant analysts reported that bitcoin miners have begun to turn off inefficient equipment and sell off reserves, which is a sign of their surrender in the market. This may also be a factor in the further decline of the bitcoin price.