The potential for the price of the first cryptocurrency to fall in the short term is growing. This is the opinion in the podcastCointelegraph expressed two well-known traders.
While Alameda Research co-founder Sam Bankman-Fried did not mention any numbers, Bitbull Capital CEO Joe DiPasquale identified $6,800 as a possible level of decline for Bitcoin.
According to him, if the situation with coronavirus inChina will deteriorate, as gold and oil prices continue to rise, Bitcoin will continue to grow. Otherwise, it may fall to the indicated mark.
However, Di Pasquale agreed that global instability will lead to a decrease in the amount of money available for investing in the first cryptocurrency.
Both traders considered the forecast of the co-founder of Fundstrat Global Advisors Tom Lee about the growth of bitcoin by 200% for six months too optimistic.
«If you say you expect growth of 10% over the next six months, then that is a reasonable statement. But 200% is actually a bullish opinion»,Bankman-Fried said.
He added that Lee regularly makes optimistic forecasts for the price of bitcoin, but does not take into account the whole range of indicators of technical analysis.
Recall that in the forecast of Crypto Outlook 2020, Fundstrat analysts nevertheless announced a possible increase in the price of the first cryptocurrency in the coming year by 100%.
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