Bitcoin (Bitcoin) Is heading towards an “absolute carnage”, which will result in about 25,000 USD, a popular trader warned that as the bullish signal for BTC/USD disappears.
In a typical direct tweet this week, the Twitter account Cobra Crypto warned that the entire cryptocurrency market value will be reduced by 20%.
Will encryption see “absolute carnage” in a few days?
Despite the “feel good” news reports at the Bitcoin 2021 conference, Bitcoin has suffered downward effects in recent days, including Adopted in Latin America.
Now, after BTC/USD dropped 9% overnight, attention is no longer turning to recovery, but a deeper price drop to test the “diamond hands” of coin holders.
According to Cobra Crypto, the scale of the surrender will cost $30,000 in support, which will still exist during the May retracement period.
“Absolute massacre in the next 5 days, otherwise you can tell me I was wrong,” he wrote June 4.
The update gives a 48-hour time limit starting from Monday, and new losses enter the market. He believes that Bitcoin will not stop at $32,000.
This is not even a garbage dump. Wait up to another 48 hours.
-Cobra Crypto (@CobraCrypto) June 7, 2021
At the time of writing, the BTC/USD trading price was $33,000, and it was repeatedly juggling $32,000 during the course of Tuesday.
Cobra encryption Add to He will “shrink” to Bitcoin at a price of less than $28,000.
No signs of upside
At the same time, Bitcoin’s problems have spread to altcoins, some of which have previously successfully reversed the overall downward trend and brought considerable gains to holders.
In addition to Theta Fuel (TFUEL) and Unus Sed Leo (Leo) Tokens, all the top 50 cryptocurrencies by market capitalization on Tuesday are in a state of loss.
A 20% reduction will reduce the overall cryptocurrency market value to around 1.13 trillion U.S. dollars, but still maintain its trillion U.S. dollar status.
Crypto Cobra is not the only company predicting price drops. As Cointelegraph Report, Trader Crypto Ed also bet that Bitcoin will further decline.
“Beware, I think we are still 1 leg behind and the rebound is weak,” he caveat In his latest update.
“BTC 32k or lower ETH 2400 or lower.”