• Home
  • Breaking News
  • Privacy Policy
  • Email Whitelisting
No Result
View All Result
Money Profit News
No Result
View All Result
Home Breaking News

Expect Bitcoin at $10k if This Happens

by
December 4, 2021
in Breaking News
0
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

The last time we saw Bitcoin’s value at less than $10k was around July of last year when the value of the asset was trading far below its current value. Since then, the value of the asset has enjoyed massive adoption and growth that has pushed its price to its current ATH of above $68k.

Related Posts

SoftBank posts a $21.6 billion quarterly loss on its Vision Fund, one of the highest in its history

Inflation: Why Mohamed El-Erian is concerned about ‘collateral damage’

Have the markets bottomed, and is it safe to buy? Experts weigh in

China announces fresh military drills around Taiwan

Bitcoin Could Crash to $10k

However, one top money manager, Louis Navellier, recently made a shocking price prediction that is sending some shock waves down the spine of many crypto enthusiasts and the community at large. According to him, the value of the flagship digital asset could crash to as low as $10k, if a certain situation were to happen.

Per Navellier, Bitcoin could see an 80% downward trend if the flagship crypto-asset forms a scary double-top pattern; it would send the asset price lower to hit below the $28k mark, and at that time, it would be signaling the end for bulls. Peradventure the double-top pattern surfaces, this would mean that Bitcoin would be journeying into zones last visited over a year ago.

I would take a decline below $46,000 (the 200-day moving average) to be a yellow flag and a decline below the spring low of $28,500 to be a completed massive double top which points to a decline to below $10,000, which incidentally would match many of the multiple 80%+ declines in its storied history.

Bitcoin Once Crashed by Over 80% in 2018

Although this prediction looks ridiculous for the crypto king, it is not an entirely new phenomenon as the asset once experienced a price correction of about 84% when its value crashed from a high of $20000 in December 2018.

Louis Navellier is the Founder and Chairman of a $2.5 billion asset management firm, Navellier $ Associates, in Reno, Nevada. He gives market analysis on leading media houses like Bloomberg, CNBC, and Fox News.

He also believes that the U.S Federal Reserve’s bond purchase could provide the biggest boost for Bitcoin.

The Fed is tapering, and this should create a correction in risk assets, of which bitcoin is a part. The more the Fed tapers, the more volatility we should see in both stocks and bonds — and yes, bitcoin, too.

At the time of writing,  Bitcoin is down by 0.7% in the last 24hours.

This article was originally posted on FX Empire

More From FXEMPIRE:

S&P 500 Price Forecast – Stock Markets Continue to Show Weakness

Natural Gas Weekly Price Forecast – Natural Gas Markets Plummet

Shiba Inu Coin – Daily Tech Analysis – December 4th, 2021

Crude Oil Weekly Price Forecast – Volatile Week Ends Somewhat Unchanged

USD/CAD Exchange Rate Prediction – The Dollar Rose Despite Robust Canadian Employment

Gold Weekly Price Forecast – Gold Markets Test Major Trendline

Next Post

Bitcoin and ether prices drop sharply, falling more than 10%

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

email

Get the daily email about stock.

Please Enter Your Email Address:

By opting in you agree to our Privacy Policy. You also agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!

Popular Posts

Breaking News

SoftBank posts a $21.6 billion quarterly loss on its Vision Fund, one of the highest in its history

by
August 8, 2022
0

In this article 9984.T-JP SoftBank's Vision Fund, the brainchild of the company's founder Masayoshi Son, has faced a number of...

Read more

SoftBank posts a $21.6 billion quarterly loss on its Vision Fund, one of the highest in its history

Inflation: Why Mohamed El-Erian is concerned about ‘collateral damage’

Have the markets bottomed, and is it safe to buy? Experts weigh in

China announces fresh military drills around Taiwan

Buffett’s Berkshire Hathaway reports $44 billion loss as portfolio value falls

5 Nasdaq Stocks To Buy And Watch Now: Here Are The Fundamental And Technical Reasons Why

Load More

All rights reserved by www.moneyprofitnews.com

  • Home
  • Breaking News
  • Privacy Policy
  • Email Whitelisting
No Result
View All Result
  • Email Whitelisting
  • Home
  • Privacy Policy

moneyprofitnews