The Asia-Pacific leader of the Trading division of the brokerage firm of Oanda Forex predicts that Bitcoin will be reduced to $ 2,500, saying that recently BTC has behaved negatively
- Bitcoin is currently unattractive
- Other opinions
Stephen Innes, head of trading at the brokerage firm of Oanda Forex, states that the Bitcoin rate will continue to decline to reach $ 2,500. As in his interview with Bloomberg, over time, the currency did not give investors the idea that the fund has been reached.
Innes believes that the predictions of the so-called positive thinkers can be far from reality and that the current market situation shows its negative side to investors and hodlers, who continue to get rid of BTC and avoid new purchases.
Bitcoin is currently unattractive
Answering a question about when the collapse of the BTC will stop and reverse, Innes has issued an indirect verdict that, for a number of reasons, money remains an unattractive investment for now. Believes that the current uncertainty in the market prevents BTC from reversing the trend.
Innes told Bloomberg that he had closely observed the encryption trends in recent months. The technical indicators, he said, do not show that the fund is inside. This is why large investors stay away, so this leaves room for the continuation of the fall. After Bitcoin has dropped less than $ 3,500 and starts to reach $ 2,500, inexperienced investors and traders can begin to drop the coin out of fear.
However, the man is optimistic about long-term open-book technology, but insists that Bitcoin and other encrypted ones will become unattractive to big investors and short-term newbies.
The main reasons for the continued fall of cryptography are the Wall Street bankers who refuse to fully immerse themselves in crypto investments, so there are regulators who are making the rules for cryptography quite rigid and difficult. Finally, even the recent fork of Bitcoin Cash is to blame.
Previously, U.Today reported that Genesis Capital Trading boss Michael Moro said that Bitcoin would have reached the bottom at the $ 3,000 level and would therefore have reversed.
He also believes that big institutional investors on Wall Street and other places do not care about the current price fluctuations, so they can wait a few years to get their profits.