Bitcoin will dip to $25K if this trader’s 20% crypto crash forecast comes true

Bitcoin will dip to $25K if this trader's 20% crypto crash forecast comes true

“Commentators are calling for a deeper crypto dive which would see BTC price action close to $20,000, not $30,000 in the short term.
Bitcoin (BTC) is heading for “absolute carnage” which will result in a trip to around $25,000, a popular trader has warned as bullish signals disappear for BTC/USD.In characteristically direct tweets this week, Twitter account Cobra Crypto warned that 20% is about to be shaved off the entire cryptocurrency market cap. Crypto to see “absolute carnage” within days?Bitcoin has suffered from downside over recent days despite “feelgood” news stories from the Bitcoin 2021 conference, including adoption in Latin America.Now, after BTC/USD lost 9% overnight, attention is turning not to a recovery, but a deeper price dip to test hodlers’ “diamond hands.”According to Cobra Crypto, the size of the capitulation will cost $30,000 support which remained during the May retracement.”Absolute carnage within next 5 days or you can tell me how wrong I was,” he wrote on June 4.An update gave a time limit of 48 hours from Monday for the fresh losses to enter the market. Bitcoin, he argued, would not stop at $32,000.This isn’t even the dump. Just wait another 48 hours max.— Cobra Crypto (@CobraCrypto) June 7, 2021

At the time of writing, BTC/USD traded at $33,000, having toyed with $32,000 repeatedly over the course of Tuesday.Cobra Crypto added that he would “scale back in” to Bitcoin at prices below $28,000.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewNo hint of upside Bitcoin’s problems are meanwhile already spilling over into altcoins, some of which previously managed to buck to overall downtrend to deliver solid gains to holders.With the exception of Theta Fuel (TFUEL) and exchange iFinex’s Unus Sed Leo (LEO) token, the entirety of the top 50 cryptocurrencies by market cap was in the red on Tuesday.A 20% reduction would bring the overall cryptocurrency market cap down to around $1.13 trillion, still preserving its trillion-dollar status.Crypto Cobra was not alone in predicting negative price moves. As Cointelegraph reported, fellow trader Crypto Ed is also betting on a further downturn for Bitcoin.”Beware, I think we still get 1 leg down, the bounce is weak,” he warned in his latest update. “BTC 32k or lower ETH 2400 or lower.””

Source: News

Cardence Announces Upcoming IDO – SpinADA

“[PRESS RELEASE – Please Read Disclaimer] Cardence is excited to announce its up-and-coming IDO – – which among many features boasts fully anonymous transactions on the Cardano blockchain. is a fully decentralized protocol for private transactions on Cardano, which breaks the on-chain link between senders and receivers of

A New DEX is Here: MojitoSwap on KCC Chain

“MojitoSwap, a decentralized exchange (DEX) based on the KCC protocol, has gone live. MojitoSwap was created by a group of KCS community members with the goal of providing easy access to the KCC DeFi ecosystem. Unlike a centralized exchange, a Decentralized Exchange, or DEX, offers people the ability to trade

SecuX Hardware Wallets Releases BSC Support and Firmware Update App on Mobile

“[PRESS RELEASE – Please Read Disclaimer] SecuX hardware wallet users can now manage their Binance Smart Chain BSC BEP-20 tokens on their iOS mobile devices on SecuX Mobile App! After the release of BSC support on the company’s web application SecuXess in late July, 2021, users have been anticipating its

Crypto finserve Bakkt to soon trade publicly on New York Stock Exchange

“From Oct. 18, Bakkt’s common stock and warrants will be listed on NYSE under the ticker symbols “BKKT” and “BKKT WS” respectively. The public listing for Bakkt ticker comes as a result of a merger with VPC Impact Acquisition Holdings, a Chicago-based special purpose acquisition company. According to an official