The global crypto market cap increased by 1.83 percent to $1.26 trillion on May 22, indicating that most cryptocurrencies benefited.
After failing to hold the $30,000 level, Bitcoin (BTC) has continued to decline. Volatility has decreased recently, implying that there will be fewer abrupt movements over the weekend. If the rate falls below $29,000, the crypto could hit the $28,000 zone next week.
BTC to Lose 52% of its Value?
One Statistiken is flashing a major warning flag for Bitcoin (BTC) investors, according to the CEO of renowned on-chain analytics firm CryptoQuant.
Ki Young Ju warns his 292,600 Twitter followers that historical data suggests Bitcoin might fall to $14,000. Based on past maximum drawdowns, BTC could drop so badly owing to the macro crisis that all Bitcoiner institutions go underwater.
Bitcoin is currently trading at $29,277, up 0.34 percent from its last high. BTC faces a 52 percent negative risk if it moves to the analyst’s price target.
The most recent Bitcoin investors, according to the quant analyst, will likely be deep underwater if market values fall into his worst-case scenario.
Following the UTXO age bands statistic, which records the prospective price level where long-term holders accumulated BTC, Ki Young Ju calculates the average entry price for each generation of Bitcoin investors over the past 11 years.
War dëst Schreiwen hëllefräich?
Source: https://coinpedia.org/bitcoin/bitcoin-downtrend-to-continue-this-week-btc-price-on-verge-to-plunge-52/