People are used to making predictions based on experience. We remember that in the spring of 2021 some experts started talking about the beginning of crypto winter. At that time, the market held steady, and after that it showed record growth. Which means that now there are several options for future.
Some assure that we are in the state of crypto winter right now. While others believe that the events happening before our eyes are just the beginning of a big rally, in which there will be no winners.
Let’s look at both positions and draw some conclusions. The first ones refer to the mind of cryptocurrency holders and the financial cushion of the Whales. Argument is as follows: a huge number of people bought Bitcoin and Ether at the very tops. Undoubtedly, some of the unlucky investors will start to get rid of their savings, which has been happening in recent days. But most do not want to lose their money, so will hold positions despite the further decline of the rate. Also worth paying attention to the actions of Whales (wallets with more than 10 000 BTC). These guys have not changed their tactics lately, slowly accumulating large amounts. It turns out that for some, cheap cryptocurrency is the way to ruin, while the big fish are looking to make money by buying up coins at low cost.
As a zone of support for collapse of Bitcoin was the mark of $20,000, but the price has fallen below $19,000. And further there are no short positions, which means the price will fall further.
In this regard, our experts have estimated that BTC might fall to $8,000 very soon. But we should not forget that there are many people who keep their money in Ether, and in the next few days the rate can go down to $800 and then to $400. Bitcoin storm grows stronger, but this is a general trend for the market, but Ethereum has also a number of internal problems. To begin with, the developers’ uncertain position on timing a move to PoS. Merger has been postponed so often that many have already stopped believing Vitalik Buterin words. Many investors no longer believe that Ether and Bitcoin can escape cold embrace of crypto winter.
Total daily volume of trading on 3 leading decentralized exchanges increased by $950...