FREE REPORT: A New Way to Earn Passive Income in 2025 DOWNLOAD

Analyst believes Bitcoin price drop is ending now

In this post:

Per the cryptocurrency trading analyst, Tone Vays, Bitcoin price is unlikely plummeted down to the $3,700 mark following its fall on 12th March, which has been its recent lowest point. Bitcoin price predictions are pouring in from all directions at the time of writing, but to make sense of the few is the real issue.

In his latest YouTube series about trading with Bitcoin, Tone said that Bitcoin price likely fell to its deepest pit during the BitMEX crash on 12th March, which resulted in the liquidation of around $1.5 billion in crypto.

Bitcoin price movement: What to expect?

Tone pointed out an interesting detail when he stated that logically after the fall, BTC’s price should’ve been 20 percent of the 2019 highs, meaning the currency should’ve dropped down to $2,800.

Tone also said that another dip might occur before the halving event in May, which wouldn’t have any long-term impacts on the price outlook.

Be that as it may, Vay believes that it is unlikely for the coin to drop below $3,700 at this point since the fall on 12th March was close enough to the $2,800 mark.

Interestingly, Tone speculated that the BitMEX crash saved BTC from plunging further, albeit temporarily. He explained on his statement that if it weren’t for BitMEX, the BTC selling would’ve just expedited, but as of now, $3,700 appears to be the lowest point.

See also  Metaplanet adds 1,111 Bitcoin to Treasury, continuing aggressive accumulation

KEY Difference Wire: the secret tool crypto projects use to get guaranteed media coverage

Share link:

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Most read

Loading Most Read articles...

Stay on top of crypto news, get daily updates in your inbox

Editor's choice

Loading Editor's Choice articles...

- The Crypto newsletter that keeps you ahead -

Markets move fast.

We move faster.

Subscribe to Cryptopolitan Daily and get timely, sharp, and relevant crypto insights straight to your inbox.

Join now and
never miss a move.

Get in. Get the facts.
Get ahead.

Subscribe to CryptoPolitan