What goes up has to come down again; That is the rule of the investment game. There is always a risk of a market correction. Investors need to know their buy and sell times. Well, cryptocurrencies are no different. In fact, it’s a much more volatile asset than traditional stocks and even more exemplary.
Oddly enough, there is a concerned conversation in the market about Crypto Winter 2021. The interesting question here is, can we just stare at such a market crash?
As of December 13, leading cryptocurrency BTC has spent around 100 days in the 40,000 range.
The source: Twitter
Now the king coin can use a few more days in the 40k range. Given that the top token has been consolidating in this area for some time. At the time of writing, it is trading at $ 48,883, up 0.96%. Online analysis facility, whale map determine exactly $ 40,000 is an area to watch closely.
From $ 100,000 to now $ 40,000 – Still an opportunity to buy?
Well, Bitcoin predictions are coming back, only two weeks to the end of the year. The CEO of the Kraken crypto exchange, Jesse Powell, expressed his “changed” story in a recent interview with Bloomberg TV.
He said there is a chance Bitcoin will drop to $ 42,000, even below the $ 40,000 mark. However, Powell is confident that the market will recover from the bear market. This could be a possible outcome when investors start buying.
“I think a lot of people see anything under $ 40,000 as an opportunity to buy. I personally bought when we dropped to nearly $ 30,000 a few months ago and I think a lot of people are just waiting to get back at rock bottom. ”
So Powell offered a scenario of a “crypto winter”.
Now consider this paradigm shift. In August, the CEO predicted that Bitcoin would trade “$ 100,000 plus one coin” by the end of this year or early next year. Well, one might ask, does the prediction still exist?
In this regard, Powell said, “It’s hard to know where it’s going to go.” However, he also added his optimistic attitude to weaken or better create certainty against the gloomy backdrop.
“If you look at Bitcoin’s long-term trend line and it’s steadily rising. I always tell people, if you are thinking of buying Bitcoin, consider it an investment plus 5 years. “
Well, BTC up to $ 100,000 is one of the most talked about aspects in the crypto space. Several prominent cryptoanalysts and figures including PlanB, Anthony Pompliano and Anthony Scaramucci have given their supportive opinions.
With 2022 approaching, some crypto investment experts are skeptical that Bitcoin will have enough time to hit $ 100,000 by 2021. According to Bitwise Chief Investment Officer Matt Hougan,
“Bitcoin at $ 100,000 by the end of the year is a difficult prediction. […] I think $ 100,000 could be the goal in 2022, but I’m not so sure this year. “
Others in the crypto community were more skeptical. As mentioned earlier, there is now a real possibility that Bitcoin will hit the $ 40,000 mark. So you can choose between two ways – either buy bearish and HODL or buy short positions, because the possibility that BTC will continue to fall in the coming days is undeniable.