Over the past day, the first cryptocurrency has fallen in price by more than $ 2 thousand. Michael van de Poppe from the Amsterdam Stock Exchange is confident that the BTC price will continue to decline, but it may change to growth if one condition is met.
The bitcoin rate per day fell by more than 10%, to $ 17 thousand, decreasing to $ 16.4 thousand during the day. Analyst of the Amsterdam Stock Exchange Michael van de Poppe in a column on the Cointelegraph warned that the cryptocurrency may continue to fall in price, as its price dropped below the support level of $ 18.5 thousand.
The immediate target for bitcoin is in the $ 15.8K – $ 16.3K range, Poppe said. He called this a key support level. As long as the price remains above it, one can expect the growth to resume. If the level fails, the rate will likely fall to $ 13.8 thousand – $ 14.2 thousand, the expert predicts.
Together with bitcoin, the entire cryptocurrency market will also decline – its capitalization may fall from $ 500 billion to $ 400 billion, where a global level of support has formed, the analyst said. After reaching this level, the market should reverse to the uptrend and head to new highs. If this does not happen, the fall could continue to the level of $ 275 billion, predicted van de Poppe.
On Thursday, November 26, the author of the bestselling Rich Dad Poor Dad Robert Kiyosaki expressed confidence in the future growth of the value of BTC. He stated that “bitcoin will fly to the moon” and called for buying cryptocurrencies, as well as gold and silver, explaining that “great times” are coming for these assets.
