Bitcoin Recovery is a Facade, Price to Go Below US$12k: Analyst
— Celsius, Crypto big shots, Rapid pace, Clear yet, Facade, Telegram channel, Price, Lives, Falling prices — 1 min read
Bitcoin price recovery over the last two days is primarily due to a push from buyers looking to own the cryptocurrency at a cheaper price. Chinese state-run newspaper Economic Daily has warned investors that the price of leading cryptocurrency Bitcoin is “heading to zero” The warning came as the cryptocurrency market continued to face a meltdown with Bitcoin hovering around US$21,000 per digital coin on Saturday a substantial drop from its record high of US$68,000 in November last year. Experts believe if the BTC price fails to achieve its 200-week moving average, then the token might experience macro price bottoms. Even Bitcoin whales have concluded that the falling prices of the crypto demonstrate that it is impossible for the token to regain its lost market value. Source