Should we trust the forecasts of opponents of cryptocurrencies?
The price of bitcoin will test the lower boundary of the corridor around the $8,000 mark. Peter Schiff, a supporter of gold and a critic of the first cryptocurrency, came to this conclusion based on technical analysis.
In the comments, one of the users noticed that the quotes of the first cryptocurrency repeat the trajectory that preceded the serious fall at the end of 2013.
Another commenter suggested that bitcoin had bottomed out ahead of an upcoming upswing phase lasting several months.
On May 8, Schiff predicted that the price of digital gold could fall below $10,000 if the rate breaks sharply down from the $30,000 level. More than 80% of participants in a Twitter poll launched by the investor agreed that quotes would not hold above this mark.
On May 11, the price failed the $30,000 level. After short, deeper subsidence, the rate returned to levels near the sign level.
Bitcoin’s “fear and greed” index is at extreme values, which signals a sell-off of the asset.
Against this background, CoinShares analysts noted a record weekly influx of funds into crypto funds since the beginning of the year. According to experts, institutional investors seek to take advantage of the market decline.
Zineеra traders believe that the future belongs to the crypto and when fiat money collapses, the crypto will be the new guarantor of stability in the world. The crisis in the United States will not go unnoticed, no matter how much the government would like it. Soon the day will come when the rates of crypto-currencies will soar to unprecedented heights.
No matter how much the opponents of progress would not like it, the future has already come.