Carter Worth, who is the technical manager of the Cornerstone Macro market came forward to comment on bitcoin price developments and projections in the future. He basically thinks that Bitcoin is likely to experience a 55% correction from all -time highs.
He argues that Bitcoin (BTC) could go down to $ 29,000 and is currently still testing the support line. In the Fast Money segment, Worth repeatedly warned about Bitcoin price movements.
If compared to the previous data through a comparison of the previous lowest price level through the price range then the $ 45,000 price level represents the peak of the support zone.
In other words, Bitcoin is still struggling to break the resistance level. If it crosses the resistance it is likely that the price will bounce back but if it continues to plummet then it is not impossible that the price of Bitcoin will fall 55% from its highest level of $ 29,000.
The market is now paying more and more careful attention to every taste of Tesla CEO Elon Musk as it can have an impact on crypto. In addition, shares of Coinbase (COIN) fell to their lowest level since its listing on the Nasdaq on April 14.
Since the emergence of COIN in the stock market, its price has seen a decline below the level of the direct listing price, $ 381 and the reference price, $ 250 to a value of $ 245.
However, some analysts are of a different view that Bitcoin shows an intact long-term price trend and even signs of a price increase.
