After its ATH last November, Bitcoin as well as the various altcoins have continued to fall until today. Again this weekend, Bitcoin (BTC) and Ethereum (ETH) did not escape the rule and saw their price go down again, to reach a low point which had not been seen for some time.
Indeed, Bitcoin has fallen below the symbolic bar of 20,000 dollarswhile Ethereum broke the $1000 mark. A fall that scared more than one, but then how far will Bitcoin and Ethereum go?
The free fall of the first two crypto currencies (BTC & ETH)
The various analysts focus on the two key levels to watch, $20,000 for Bitcoin and $1,000 for Ethereum. “Which can contribute to selling pressure in the market if the price falls below,” said Vetle Lunde and Jaran Mellerud of Arcane Research.
So these are two key levels to watch closely because if these two levels break we can expect selling pressure from many holders.
The different historical data show us that Bitcoin could have a strong support around $20,000 as was achieved in 2018, 2019 around $5000 as well as the price of $300 in 2013, 2017 according to Mike McGlone, analyst for Bloomberg Intelligence.
Finally, a very nice sentence from Ainsley To, Noelle Acheson and Konrad Laesser to take into account in his bearish moments “The resurgence of counterparty risk reminds us that not everything that matters in risk management can be quantified with precision. . Risk is what’s left after you think you’ve thought of everything”