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Bearish Outlook: Could BTC Sink to $1K? This Analyst Thinks so...

Bearish Outlook: Could BTC Sink to $1K? This Analyst Thinks so...
  • The last 24 hours has seen the king coin trade at and around the $5000 mark.
  • Peter Brandt tweeted earlier this week in response the new low for the leading cryptocurrency.
  • The trader said that if you looked at the bitcoin charts, the new bottom could potentially look like -$1000.

It’s been a bad day for cryptocurrency. The last 24 hours has seen the king coin trade at and around the $5000 mark. These are the lowest lows since crypto winter at the end of 2018. One crypto analyst is a believer that the worst is yet to come.

With many travel bans going on throughout the world, the crypto markets responded negatively in a fashion that we haven’t seen for over a year.

One of the longest traders in the industry, Peter Brandt tweeted earlier this week in response to an enquiry about the new low for the leading cryptocurrency due to the outbreak of coronavirus. For those that don’t know, Brandt correctly predicted the market crash from the all-time high of $20,000 in 2017.

The trader said that if you looked at the bitcoin charts, the new bottom could potentially look like -$1000.

It’s safe to say that Brandt is no sceptic when it comes to bitcoin and cryptocurrency. 

Before we go any further though, it’s worth saying that we aren’t financial investors and this isn’t financial advice. Please do your own research before putting your money in a cryptocurrency and always remember to trade safe!

It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!

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