Renowned Economist Reveals What Will Happen If Bitcoin Can’t Hold $60,000

Name	Symbol	Market	Market Cap ($)	Algorithm
SHIBA INU	SHIBUSD	Crypto	14,732,021,832	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

SHIBA INU

SHIBUSD

Crypto

14,732,021,832

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.00	0.00%	0.000025	0.000025	0.000025

Price Change

Price Change %

Current Price

Bid Price

Offer

0.00

0.00%

0.000025

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.000025	0.000024	0.000025	0.000025	0.00000600 - 0.000048

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.000025

0.000024

0.000025

0.00000600 - 0.000048

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	12:25:39	26,250,000.00	0.000025	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

12:25:39

26,250,000.00

0.000025

USD

Price x Volume	Volume	Base Symbol	Related Pairs
14,662,372.01	41,346,414,696.35	SHIB	SHIBEUR	SHIBGBP	SHIBBTC

Price x Volume

Volume

Base Symbol

Related Pairs

14,662,372.01

41,346,414,696.35

Renowned Economist Reveals What Will Happen If Bitcoin Can’t Hold $60,000

25/04/2024 6:00pm

NEWSBTC

Chief economist and Bitcoin critic, Peter Schiff has issued a somber prediction regarding the world’s largest cryptocurrency, Bitcoin. The financial expert has cautioned investors of the potential repercussions should BTC drop below critical resistance levels. Economist Predicts Bitcoin Price Decline In a recent X (formerly Twitter) post, Schiff shared a price chart of Bitcoin against the United States Dollar (USD), pinpointing Bitcoin’s price at the time of the post at $63,814, alongside key support levels around $60,000. The economist has argued that Bitcoin’s current price position was not conducive for HODLers. Related Reading: Brace For Impact: Worldcoin Team Plans To Sell 1.5 Million WLD Tokens Every Week For 6 Months Emphasizing the importance of BTC maintaining a stronghold above $60,000, Schiff urged investors to proceed with caution and hope that the cryptocurrency successfully sustains support levels. He also predicted that if Bitcoin failed to hold critical support levels, a substantial price decline would be inevitable. While Schiff’s predictions may appear to align with his usual skepticism towards Bitcoin, the timing of his warnings coincides with a period of heightened uncertainty and volatility surrounding Bitcoin’s price. The cryptocurrency is currently trading at $63,909, marking a notable decrease from its previous all-time high of over $73,000 before the halving event. Data from CoinMarketCap has revealed a series of declines, with Bitcoin experiencing a 3.75% drop in the last 24 hours and a 4.38% decrease over the past month. This underscores the uncertain price condition of the pioneer cryptocurrency, hinting at the possibility of further declines unless the cryptocurrency makes a quick price correction. Schiff has stated that while experienced Bitcoin holders are accustomed to large price drops and periods of volatility, new investors who have recently entered the Spot Bitcoin Exchange Traded Fund (ETF) market should be prepared for a “rude awakening.” Crypto Analyst Says Potential Upsurge In Store For BTC On Monday, April 22, prominent crypto analyst, Ali Martinez shared insights on Bitcoin’s future price trajectory in an X post. Martinez noted that the price of Bitcoin was steadily rising, aiming to secure new highs around $66,000. Related Reading: Shiba Inu Exchange Balances Reach New Low As SHIB Bounces Off Golden Ratio The crypto analyst predicts that if Bitcoin can successfully break past key support levels at $66,000, the cryptocurrency’s next critical resistance level would be between $69,900 and $71,200. Despite this optimistic forecast, Martinez has also warned investors about a potential pullback, emphasizing the importance of exercising caution and closely monitoring Bitcoin’s price if it falls below $65,500. With Bitcoin currently priced at $63,909, it has fallen notably below the key support level highlighted by Martinez. This continuous price decrease could be attributed to recent trends indicating that Bitcoin’s accumulation score has dropped to zero. This suggests that whales may be moving away from the pioneer cryptocurrency or refraining from accumulating Bitcoin at its present price level. BTC price falls toward $63,000 | Source: BTCUSD on Tradingview.com Featured image from AMBCrypto, chart from Tradingview.com

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