The price of Bitcoin will not fall much lower, and the price of USD 3,000 per 1 BTC seems even unlikely,” commented a well-known analyst, Tone Vays, on the current market situation.
Bitcoin price will not fall to USD 3,000
Tone Vays has written a few short sentences on Twitter about what he thinks about the Bitcoin (BTC) course. In his opinion, the bottom will be above $3,000.
We are in the are of the 2 year anniversary of the All Time Highs for both #Bitcoin & #Shitcoin. While I do not believe this current $BTC low will swing to new lows (< $3k), I do believe that Alts will make new lows.
Q: who will still be mining $LTC under $20? pic.twitter.com/r6U51ogUxj
— Tone Vays [Vegas – Unconfiscatable.com] (@ToneVays) December 17, 2019
Today, many analysts also remember what happened at the end of 2017, when the prices of almost all the crypts were going up hard and Bitcoin alone reached $20,000.
The last year was largely a side trend with a mini-bubble on Bitcoin, which raised the price of the oldest cryptocurrency above $10,000. In recent days, however, we have seen a drop to $6,500. Today, 1 BTC has to pay over USD 7,100. The digital currency has increased by about 6.5 percent per day.
The recent price crash on Bitcoin has raised concerns that the digital coin will fall to 5500 USD. For now, however, this danger has been postponed.
Mechanism for BTC’s value recovery may not work the same for altcoins. Vays is very pessimistic about the Litecoin course. He notes that the cryptocurrency has fallen to last year’s minima, to about $22, reaching the price before the rally in 2017. Currently, it is worth 39.91 USD, which, however, gives a jump of more than 5 percent in 24 hours.
In turn, Ethereum, considered by some to be a project that may threaten Bitcoin in the future in its struggle for market dominance, costs USD 127 today and has grown by about 3 percent on a daily basis.
Token Ripple XRP costs USD 0.18 which translates into only 1.8 percent growth over the last 24 hours.