However, “nobody can predict the future,” says the executive, who adds that “us$20,000 seems like a very low price to us today. But you know, in 2018, 2019, if you told people that bitcoin would be $20,000 in 2022, they would be very happy. Between 2018 and 2019, bitcoin was between $3,000 and $6,000, a record.”
Asked if the current price fluctuations of bitcoin and cryptocurrencies were “normal”, Zhao reflected that “if you look at the bottom (of bitcoin), right now it is higher than the last peak. So whether it’s normal or not, I think with the industry still growing, price fluctuations are normal.”
From the point of view of technical analysis, Roberto Moro, an independent analyst, assured that the current fall can take the cryptocurrency to $13,000. “If we extend the horizon of the chart to 2020, the key to the price is to see if it holds the support it has around $28,000. Once lost, it seemed logical for Bitcoin to start down the path it is on. In the Bitcoin chart since 2020, no significant support is observed, so it can perfectly go looking for the $13,000 area.”
“It has a small support in the area of $20,000, which is where it is transiting, but if it loses it technically it has all the earmarks of continuing to fall and looking for significantly incredible levels”Moro warns.
Source: Ambito
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