Drop to $5,000 is the 'unsugar-coated worst case scenario' for BTC

06 Jun, 2019
by Joeri Cant
Bitcoin
Drop to $5,000 is the 'unsugar-coated worst case scenario' for BTC

Crypto trader and analyst, going by the Twitter handle, Dave the Wave, recently took to Twitter to suggest that Bitcoin could slowly retrace to $5,000 by the end of 2019.

According to a recent tweet by crypto analyst, Dave the wave, Bitcoin might see a slow decline all the way to $5,000 by the end of this year.

The analyst further pointed out that the recent upward price movements of the world's number one cryptocurrency, effectively managed to negate the chance of buying BTC in the $3,000 range again.

'If instead price had corrected at 5K, those lower prices may have been revisited briefly', he tweeted.

Trader, Josh Rager, joins Dave the Wave in his sentiments, suggesting that the lowest level he sees Bitcoin going to, is $5,404, as anything below that price level he would consider to be bearish.

Rager asked his 39.8K Twitter followers, where they think BTC will bottom out during this pullback.

Out of more than 3.300 votes, 36% thinks that BTC will find its bottom between the $6,400 to $6,800 price range, while 12% seems to agree with Rager and Dave the Wave, that Bitcoin will bottom below the $5,600 price level.

Many in the cryptoverse seem to take this as a positive.

Where do you think BTC will bottom during this pullback? let us know in the poll below.

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Read more about: Bitcoin (BTC)

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Where do you think BTC will bottom during this pullback?

(143 votes)

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