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Fear of 44,700 Dollars in Bitcoin: New Dip Warning from Analysts
Bitcoin has lost over 30% of its value in the last month and a half, and according to analyst Ali Martinez, there is a possibility that the price could fall to 44,700 Dollar.
It shows that there is a continued selling pressure of 20,000 BTC flowing to exchanges and 1.2 billion dollars coming out of ETFs.
The sharp decline in capital inflows indicates that the market has not yet hit bottom.
If history repeats itself, 44,700 Dollar may come onto the agenda.
Cryptocurrency analyst Ali Martinez indicates a deeper decline potential when assessing Bitcoin's historical low levels according to price bands. According to Martinez, Bitcoin has previously formed a bottom in the green and blue band range, and if this scenario repeats, the price could drop to 44,700 Dollar. Reaching this level would mean an additional loss of approximately 50% in value from current prices.
#BitcoinPriceWatch #BTC