Opinion: Bitcoin risks falling in price by another 20%

Investors see the conditions for a further fall in the BTC rate.

Thursday began with growth for all cryptocurrencies from the top 10 of the CoinMarketCap capitalization rating, with the exception of Bitcoin SV. Bitcoin is trading at $ 10,327. During the day, the cryptocurrency rate increased by 1.69%. The best results of a positive movement in 24 hours were recorded by Polkadot (+ 9.28%) and the second-largest cryptocurrency by capitalization Ethereum (+ 8.75%).

Data: CoinMarketCap

It is noteworthy that BTC growth occured against the background of reaching the maximum hashrate of the cryptocurrency. It turned out earlier that in 47% of cases, the bitcoin rate enters a positive movement during periods of renewal of record hash rates.

Bitcoin hashrate chart. Data: bitinfocharts.com

Recall that not long ago bitcoin was trading above $ 12 thousand. Many members of the crypto community believe that against the background of the halving implemented in May, the cryptocurrency may show growth. An unexpected drop in the rate of a digital asset led to a decrease to a minimum in 7 months in the number of users with over 10 BTC on their account.

Data: GlassNode

Against the background of the negative dynamics of bitcoin, Forbes columnist David Gokhshtein gave a forecast for the further movement of the cryptocurrency rate. In his opinion, the digital asset will go into decline this week. In this case, the local minimum for BTC, as he believes, will be at the level of $ 8,100. In this case, the decrease from the current values will be about 20%. This, said David Gokhshtein in his microblog, evidenced by research data. He did not specify which ones. Earlier he correctly predicted the exit of bitcoin in a correction.

One of the founders of the Gemini digital asset exchange Cameron Winklevoss, in turn, once again reminded the crypto community members of the benefits of a new financial instrument. He drew attention to the difference between the adaptation process of cryptocurrencies and traditional money. In the case of the latter, he believes it is necessary to use cruelty. The adaptation of digital assets, in his opinion, is on the contrary going organically and peacefully.

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