Never say never. Bitcoin could be going to $10K, and it's 'foolish' to say otherwise, claims an analyst.
As ever, the behavior reflected moves in United States equities markets, which stayed flat on the day.
Remarks by Federal Reserve chair Jerome Powell had provided only brief volatility. Cointelegraph noted thatAs such, crypto commentators stuck to previous assertions — the outlook was uncertain, they said, but a potential fresh drawdown may only involve a trip to $16,000. "Consolidating $BTC in a broad range and then going up. MDD is not that big like -20%," Ki Young Ju, CEO of on-chain analytics platform CryptoQuant,Ki retweeted analysis from popular account Il Capo of Crypto, whose BTC takes had long called for price downside.that"most Bitcoin cyclic indicators are saying the bottom" is in, and that shorting BTC at current levels was therefore ill-advised.
"Not sure how long it would take for consolidation in this range tho. Opening a big short position here sounds not a good idea unless you think that $BTC is going to zero," he wrote.
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