The author of this piece clearly didn’t take the news that the Bitcoin halvening was going to occur this summer well. The article’s title is a reference to the famous “Dead Cat Bounce” that occurs after market sell offs, when prices bounce back quickly to near where they were before the sell off. The author of the piece thinks that the next halvening will be like a “Dead Cat Bounce” for Bitcoin, with Bitcoin’s price rising back to $15000 before the next halvening.
A popular analyst, Ronnie Moas of Standpoint Research, recently stated that Bitcoin’s “end game” is $15,000. Moas stated that the cryptocurrency market will “grind down” and reach $15,000 before next year, but that the price will experience periodic “dead cat bounces” and that it could even go to $100,000 before its all said and done.An analyst from biotech consulting group Biotechvalley Insights believes that after bitcoin lost 53% from the crypto asset’s all-time high, the party is clearly over. An analyst from a biotech consulting group believes investors in cryptocurrencies will see a slow descent to the bottom, with the occasional dead cat bounce, and expects prices to fall to $15,000 in the coming weeks.
analyst says: leave bitcoin and never look atagain
According to an analyst at Biotechvalley Insights, crypto currency investors should sell bitcoin and stop looking back. The analyst said he warned investors in an earlier article before bitcoin (BTC) collapsed from a high of $64,895 to $30,066, losing more than 50% of its value. An investor at a biotech consulting group points out that people should consider eliminating or reducing anything related to bitcoin. The recent collapse proves that bitcoin is not a safe haven, not a store of value, not a hedge against inflation/market correction, but a speculative token that can drop 50% in a week, according to the article published Tuesday. Bitcoin no longer has exotic catalysts and is under coordinated regulatory attacks from governments around the world. At this point, I don’t think anything can save it from another collapse, the analyst report added. The Biotechvalley Insights researcher isn’t the only one who thinks bitcoin is dead. Two days ago, gold expert Peter Schiff tweeted his distaste for Ethereum and Bitcoin. Ethereum has broken through its low of the 19th. May at $1,850. Bitcoin is within $2,000 of its low of the 19th. May. On the 10th. In May, the total market capitalization of 10,000 cryptocurrencies peaked at $2.485 trillion. It took less than two weeks to get below the $1.3 trillion mark, Schiff said.
Biotechvalley analyst wants to short bitcoin at $15,000
Analyst Biotechvalley Insights thinks bitcoin’s downward spiral will last longer than expected. The analyst’s price target is $15,000 to $16,000 per BTC, but he goes on to say that the million-dollar demand is right now: Are we out of the woods yet? This is what the study by a group of biotechnology consultants highlights: I think bitcoin has a long way to go on the downside. I think he’s slowly rolling down the slope of the heap, with occasional jumps. Since the technology is severely damaged, it’s best to be the first to sell into the bubble before the whole ship sinks. Bitcoin (BTC) and many other cryptocurrencies are under strict scrutiny due to environmental concerns, and governments are taking excessive regulatory action. According to the biotech analyst, these are certainly problems, but cryptocurrencies also have extreme leverage. Any unexpected downward movement in prices could lead to a quick sell-off as many investors are unable to meet margin requirements, the report notes. Moreover, it is no secret that bitcoin whales abuse this excessive leverage by manipulating the market and causing unexpected volatility to liquidate the positions of retail investors. The analyst’s game plan is to short bitcoin (BTC) to USD 31,000 and liquidate 30-50% of the position to cover the cost base and continue shorting to get cash home. The researcher believes there will be significant resistance in this area, but after a break down, resistance around $19-20 is expected. What do you think of Biotechvalley Insights’ analysis and the $15,000 to $16,000 per bitcoin target? Let us know what you think in the comments below.
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Target $15K, biotech, biotechvalley insights, biotechvalley insights analyst, bitcoin, bitcoin (BTC), bitcoin is dead, bitcoin to $15k, dead cat bounce, downward spiral, energy concerns, markets and prices, Peter Schiff, regulators, resistance, short bitcoin Photo credit: Shutterstock, Pixabay, Wiki Commons Denial: This article is for information only. It is not a direct offer or invitation to buy or sell, nor is it a recommendation or endorsement of any goods, services or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author shall be liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services referred to in this article.