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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Analyst Points To Possible 30% Bitcoin Correction, Calls For Caution

Godspower Owie
Godspower Owie
1 year ago
3 mins read
Bitcoin

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Popular cryptocurrency expert Cold Blooded Shiller has made a grim prediction that Bitcoin may be on the verge of a significant correction and could crash as low as 30%, given the current heightened volatility in the market. 

Bitcoin Could Be Poised For 30% Pullback

Cold Blooded Shiller believes it is important to note that Bitcoin is holding up and now showing much more strength, regardless of the different factors influencing the nascent sector, such as ETFs, fundamentals, and Halving.

Related Reading

Bitcoin

Analyst Expects Bitcoin Price Correction To Persist, Targets $57,000 Support

1 year ago

Given that pullbacks of 30% are historically common for BTC, Shiller foresees the potential for this to repite this cycle. Should the trend manifest, the price of BTC could fall as low as $51,000 in the upcoming months.

The post read:

With the historical tendency to produce -30% pullbacks, what happens to the landscape if BTC does head down for a -30% correction and into the $51,000?

Cold Blooded Shiller drew attention to a previous post offering investors insights on taking advantage of this development when it happens. Shiller is confident that BTC might undergo the correction mentioned above, and the impact on altcoins would likely be around -50%.

Bitcoin
Possible 30% correction | Source: Cold Blooded Shiller on X

The expert believes some investors are eager to profit in the bull cycle but neglect the risk involved in this period. “I keep referencing buy anywhere you want with risk management that supports -30% downside and ensure you can keep buying more,” he stated.

Thus, the analyst has stressed the need for investors to be well organized and understand what constitutes an opportunity-filled environment in a bull market. His post encourages investors to reassess their risk management and investing tactics to navigate the ever-changing crypto landscape successfully.

BTC Price Continues To Fall

The price of Bitcoin continues to move downward, falling to $63,000 after a recovery witnessed on Monday. Over the last 24 hours, the crypto asset has dropped by 5%, causing a general collapse in the market.

Related Reading

Bitcoin

Bitcoin Halving RoadMap: Analyst Outlines 3 Phases For Market Dynamics

1 year ago

At the time of writing, BTC was trading at $63,854, indicating an over 10% decrease in the past week. On the last day, its trading volume increased by roughly 1%, while its market value fell by over 5%.

Given the current trajectory in the crypto market, BTC might suffer an even greater decrease in the next few days. Several analysts anticipate a further price decline before the Halving event in less than five days.

Bitcoin
BTC trading at $63,133 on the 1D chart | Source: BTCUSDT on Tradingview.com
Featured image from iStock, chart from Tradingview.com
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Godspower Owie
Godspower Owie

Godspower Owie

My name is Godspower Owie, and I was born and brought up in Edo State, Nigeria. I grew up with my three siblings who have always been my idols and mentors, helping me to grow and understand the way of life.

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My parents are literally the backbone of my story. They’ve always supported me in good and bad times and never for once left my side whenever I feel lost in this world. Honestly, having such amazing parents makes you feel safe and secure, and I won’t trade them for anything else in this world.

I was exposed to the cryptocurrency world 3 years ago and got so interested in knowing so much about it. It all started when a friend of mine invested in a crypto asset, which he yielded massive gains from his investments.

When I confronted him about cryptocurrency he explained his journey so far in the field. It was impressive getting to know about his consistency and dedication in the space despite the risks involved, and these are the major reasons why I got so interested in cryptocurrency.

Trust me, I’ve had my share of experience with the ups and downs in the market but I never for once lost the passion to grow in the field. This is because I believe growth leads to excellence and that’s my goal in the field. And today, I am an employee of Bitcoinnist and NewsBTC news outlets.

My Bosses and co-workers are the best kinds of people I have ever worked with, in and outside the crypto landscape. I intend to give my all working alongside my amazing colleagues for the growth of these companies.

Sometimes I like to picture myself as an explorer, this is because I like visiting new places, I like learning new things (useful things to be precise), I like meeting new people - people who make an impact in my life no matter how little it is.

One of the things I love and enjoy doing the most is football. It will remain my favorite outdoor activity, probably because I'm so good at it. I am also very good at singing, dancing, acting, fashion and others.

I cherish my time, work, family, and loved ones. I mean, those are probably the most important things in anyone's life. I don't chase illusions, I chase dreams.

I know there is still a lot about myself that I need to figure out as I strive to become successful in life. I’m certain I will get there because I know I am not a quitter, and I will give my all till the very end to see myself at the top.

I aspire to be a boss someday, having people work under me just as I’ve worked under great people. This is one of my biggest dreams professionally, and one I do not take lightly. Everyone knows the road ahead is not as easy as it looks, but with God Almighty, my family, and shared passion friends, there is no stopping me.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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