Bitcoin price has yet again trembled down below $40,000 and trying very hard to uplift beyond these levels. Despite a tough brawl between the bulls and the bears, the prices appear to be under the control of the bears. And hence after a bearish weekend, the BTC prices are expected to slide down heavily which could also ignite a bearish trend to end the monthly trade.
A veteran crypto trader, Peter Brandt speculates a resurgence of an already ‘seen event’ and hence a huge bearish trend may ignite very soon. The trader calls his 633K followers that the BTC price may undergo a 30% drop which may drag the price around $27,000.
Brandt believes that the Nasdaq-100 index could mirror the dot com bubble crash of early 2000 and says that it may be a ‘Dejavu Moment’. If the predictions of the BTC price hold good, then harder days are awaiting for the star crypto. It is a fact that the crypto holds a deep correlation with the stock market and hence turbulence within the market may deeply impact the crypto space.
With the resurgence of the bearish cartel within the crypto space, the Bitcoin price may be severely impact accordingly. If the BTC price tanks below $30,000 it would be extremely difficult for the other altcoins to maintain a stable rally. And hence the entire crypto space may get rekt for some time. However, the bulls are always lookout for a chance to enter at the bottoms. Therefore, this may ignite a strong flip for the BTC price at the earliest.