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If This Happens, Bitcoin Will Reach $10,000.
The last time Bitcoin’s worth was less than $10,000 was in July of last year, when the asset’s value was trading much below its current value. Since then, the asset’s value has seen significant acceptance and development, propelling it to its current ATH of more over $68k.
Bitcoin Could Crash to $10k
However, one renowned money manager, Louis Navellier, has issued a frightening price forecast that has sent chills down the spines of many cryptocurrency fans and the community at large. If a specific scenario occurs, he believes the value of the flagship digital asset might fall to as low as $10,000.
According to Navellier, Bitcoin may witness an 80% drop if the flagship crypto-asset creates a terrifying double-top pattern; this would push the asset price lower to below $28k, signifying the end for bulls. If the double-top pattern appears, Bitcoin will be venturing into territory last visited more than a year ago.
A drop below $46,000 (the 200-day moving average) would be a red signal, and a down below the spring low of $28,500 would be a completed enormous double top pointing to a drop below $10,000, which would coincide with many of the many 80 percent+ drops in its illustrious history.
