It was just recently when Bitcoin (BTC) had managed to hit its all-time high of $64k+ before the investors started liquidating their holdings. This resulted in Bitcoin (BTC) prices coming all the way down to around $56k per BTC.
While many hodlers and whales were trying to understand the situation, even more liquidation started coming in. According to several cryptocurrency data-analyzing firms, more than $200 billion worth of BTC were liquidated in a matter of 24 hours.
This resulted in the majority of the investors growing concerned and the liquidation for BTC is still being observed. The recent developments in the Bitcoin (BTC) price are that it is currently hovering around $50k per BTC.
According to analysts, Bitcoin (BTC) ended up losing a lot of support and rally on Friday, April 23, which resulted in Bitcoin (BTC) price dropping by $14k to $16k in a single week.
Following the recent changes and price drops for the largest cryptocurrency, analysts have started making their predictions. They have also started buying orders amid the latest correction Bitcoin (BTC) has demonstrated with respect to its price.
Quite surprisingly, several analysts have set the buy orders at much lower rates than what Bitcoin (BTC) is facing now.
It is a common understanding among analysts that when BTC price drops and pulls, majority of the new and short-term investors panic and start fearing for their investments.
On the other hand, the old and veteran investors continue believing in the nature, trend, future, and growth of BTC. They keep believing in BTC and decide not to take any actions to see how things turn out to be in the future.
While many are thinking that $50k per BTC would be the last drop Bitcoin (BTC) is to face, analysts seem to be making different speculations. Many analysts are of the view that BTC prices will stay bearish for some time and its price will continue to drop.
Peter Brandt, a world-renowned cryptocurrency analyst who pays much attention to BTC has shared his views about the digital asset. In the past several years, Brandt has made several predictions and speculations on the prices, and the different phenomenon of Bitcoin (BTC).
According to Brandt, the dip all the way down to $50k is just the beginning. There are high chances that Bitcoin (BTC) would end up plunging lower than it has fallen at present.
Brandt has claimed that he is confident that the price of Bitcoin (BTC) will plummet and will come all the way down to ’30s. He stated that he has already set up his buy order for Bitcoin (BTC), which is set at a price of $32,501.
On the other hand, several analysts are predicting that Bitcoin (BTC) would plummet all the way down to $46k per BTC before rebounding.