Veteran trader predicts big dump for Bitcoin is coming  – Bitcoinik

According to some analysis, the trade price of Bitcoin may crash to $30,000 despite the bull sentiments.

The current trade price of Bitcoin is $43,472 & this trade price is 1% high over the last 24 hours trade price. 

Veteran trader predicts big dump for Bitcoin is coming  1

The net increment in the trade price of Bitcoin YTD is 161% which is a very big figure for any high market-cap financial asset.

Under the current sentiments, people are predicting $48k as the next stable level for Bitcoin. Many analysts predicted that the $48k trade price will be hit by Bitcoin in the second week of Jan 2023 easily, as the decision on the Bitcoin spot ETF will come.

Despite all the positive sentiments, some crypto analysts predicted that Bitcoin may crash by –17.5 % and that may increase the panic level among retail investors sharply.

Il Capo, a crypto analyst, predicted that the trade price of Bitcoin is going to show fluctuations between 40k-45k and Ethereum may hit $2,500 in the coming week.

According to his analysis, there are huge possibilities where we can predict the significant downfall in the trade price. 

On behalf of the analysis based on multiple factors, this crypto analyst claimed that the situation may get reversed completely. In short, he predicted that the crypto bull momentum may disappear for the long term.

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This analyst confirmed that $40k is still a strong level for Bitcoin but in worst scenario, the trade price could plunge to $30k.

Money inflow in the crypto market

In the last 7 days, the crypto market saw a net money inflow of $103 million.

Bitcoin saw a net investment inflow of $87.6 million, Ethereum Ethereum (ETH) $7.9 million, & Solana (Sol) $6 million. 

Crypto experts believe that the sudden increment in the money inflow in the crypto market is because of the Christmas Eve occasion. And also noted that crypto festivals are also coming, like Bitcoin halving, and approval of Bitcoin spot ETFs,& obviously US presidential election.

Read also: 29 Dec is the deadline for Bitcoin spot ETF applicants to update filing, what does it mean?

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