Bitcoin is dead with its $100 price or is it immortal?

bitcoin analysis

Marek Paciorkowski played his shot against the downturn of Bitcoin`s price. He is one the famous analyst at Aforti Exchange in S.A. Business review of Romania reported that according to Paciorkowski the price of Bitcoin would drop to $100 in near future. It will be the least price recorded since in the five-year history of Bitcoin. It will be 99.5 % below than the price of Bitcoin at the end of the year 2017. Paciorkowski commented the by looking at the triangle price trend of Bitcoin since March 2018 it can be noticed that the price will go down to $100 after the breakout.

Investors should not take this news lightly because anything can happen in the crypto markets. As the Bitcoin price is continuously decreasing, the time may come that it will drop to $100 and it will break the USD 5500 level.

Recent BTC price level can be seen in the following analysis given by Bitfinex.

Bitcoin is dead with its $100 price or is it immortal? 1

Paciorkowski claimed that Bitcoin is not far from dead because after the continuous decreasing trend it will be impossible for it to rise back. He said that the triangle pattern of Bitcoin price showed that buyers and investors are no more interested in investing in Bitcoin because of the continuous drop in its price, which has resulted in lower trade volume. After its peak in Feb 2018, the prices have not shown any recovery.

However, many analysts stated that Bitcoin is far from dead. By looking at the history of Bitcoin it will be clear that Bitcoin has survived so many times. Therefore, these predictions cannot be true in the case of Bitcoin. According to the 99Bitcoin site, Bitcoin is immortal.

Aroosa Nadeem

Aroosa Nadeem

A media graduate and passionate media person Aroosa has a knack for digital media journalism and outreach. She has contributed content to different digital media publishers in a variety of areas including technology, health and finance.

Related News

Hot Stories

Malta announces revision of its crypto regulatory framework
Coinbase CEO rejects FTX's 'accounting error' claim
Ethereum price analysis: Bullish momentum continues as price reaches $1,265
Bitcoin price analysis: BTC/USD continues to surge as it breaks out at $17,082
ChainLink price analysis: LINK bearish at $7.3

Follow Us

Industry News

Coinbase CEO rejects FTX's 'accounting error' claim
Will SBF testify before U.S. Congress on Dec 13th?
Self-custody: The new trend in Crypto?
Are crypto miners losing faith in Bitcoin? Over 10K BTC dumped
Coin Signals ordered to return funds to victims

Add Your Heading Text Here