W
e had some Bitcoin enthusiasts some months back .... Anyone buying this flaky stuff if it fails support and goes as low as $5000 ?? we know it likely rise up from the ashes and try to re-invent itself.. Isn't it nice tio be in Gold where at least you know the shiny stuff doesn't disappear it just gets more affordable... But how low could Bitcoin go?
Despite the fact that Bitcoin trades for over US$21,000 at writing, the worlds largest cryptocurrency has struggled to maintain these levels. It has been slipping below the US$19,000 mark every few days for the last few weeks. Cryptocurrency analysts believe that if it cannot maintain its support levels at US$19,000, the next few months could be disastrous for Bitcoin investors.
Failure to maintain the current support levels could see Bitcoin decline to and maintain a price range around US$14,600. However, a few veteran Bitcoin analysts believe that Bitcoin could eventually crash to a price as low as US$5,000 by the end of the year. Peter Schiff, the analyst who has made the prediction, believes that Bitcoin charts are already disastrous, and it is only a matter of time until it declines further.
Most other analysts predict that it could fall between US$11,000 and US$18,000. With Bitcoin already maintaining levels near US$19,000, it is already near one of those lows predicted by analysts.