According to an analyst at Oanda Corp., Stephen Innes, if the main crypto currency falls to 3 thousand dollars, then investors will massively come out of bitcoin. This point of view was voiced by the expert during his speech to Bloomberg reporters.
The situation in the cryptocurrency market continues to be very difficult. Last Thursday, bitcoin and altcoins were able to partially restore lost positions and slightly increased in price, but today the market was again in the red zone and shows a decline in almost all directions.
Since January 2018, the crypto market has lost more than 700 billion dollars of its capitalization, which now leaves a little more than 140 billion dollars.
Stephen Innes is sure that there are still a lot of people in the crypto–currency market, but we will observe a collapse if bitcoin suddenly collapses to 3 thousand dollars. At this point, most investors will rapidly withdraw from the crypto market.
“I believe that within the next month bitcoin will be trading at the level between 3.5 thousand and 6.5 thousand dollars with the probability of falling to 2.5 thousand dollars in January,” said the expert of Oanda Corp.
In parallel, the demand for such assets as precious metals will grow. Gold will be in higher demand and may rise to peak values. If this metal shows aggressive growth, then cryptocurrencies, on the contrary, will be in a state of a long crisis, Stephen Innes added.
Now bitcoin is trading at the level of 4 353 thousand dollars. Along with this asset in the price fall almost all known altcoins. The leader of the fall of the top ten crypto–currencies was Bitcoin Cash, its price has decreased by more than 10% to 201 dollars over the past day.
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