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Bitcoin Breaks Below $20,000: Analyst Say 'Panic Could Be Massive,' Predicts Lower Price Target

Published 18/06/2022, 11:52
Updated 18/06/2022, 12:40
© Reuters.  Bitcoin Breaks Below $20,000: Analyst Say 'Panic Could Be Massive,' Predicts Lower Price Target

On Saturday, Bitcoin (CRYPTO: BTC) broke below $20,000 for the first time since December 2020. One analyst has been anticipating the breakdown and says things could get worse from here.

What Happened: The pseudonymous crypto analyst Capo has been predicting that the overall cryptocurrency market will see a downfall in the coming days and Bitcoin's fall below $20,000 will trigger panic in the market.

Also Read: This Industry Expert Says Bitcoin Could Rally By Around 732%: Here's How Long That Will Take

However, crypto trader Peter Brandt believes a retest of $20,000 could provide a relief rally for Bitcoin.

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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Latest comments

the price of Bitcoin is a consequence entirely of loose or tight monetary policy. So is the currency value of everything else but everything else has utility and a use value.
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