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Here’s Why Bitcoin, Ripple, Ethereum, and Altcoins Delete $ 25 Billion!

Here’s Why Bitcoin, Ripple, Ethereum, and Altcoins Delete $ 25 Billion!

After a strong week, the Bitcoin and cryptocurrency market made a big retreat. The market’s loss in the past 24 hours has exceeded $ 25 billion. Many cryptocurrencies have wiped their weekly earnings with this hard selloff. Bitcoin price fell more than 10% and saw a $ 2,000 meltdown. So what is the reason for this sudden surge in the market?

Josh Rager predicted the latest Bitcoin collapse! “Whales are guilty”

While writing this article, Bitcoin stands in the middle of $ 8,000. This collapse comes just days after the cryptocurrency reaches $ 10,000. The sharp decline in Bitcoin has liquidated hundreds of millions of dollars of long positions. Trader and investors were caught unprepared for this collapse. However, according to some, this drop in the market was predictable. Popular analyst and trader Josh Rager had previously warned that whales could take action soon and push prices down. 

Predicting that Bitcoin can surpass $ 10,000, Josh Rager has previously warned that there will be a price collapse triggered by whales. This will allow whales to accumulate before making a push for the $ 10,000 position, according to analysts. The flash collapse certainly seems to have triggered whales, according to experts, since no further improvement has occurred in the past 24 hours. Bitcoin will go to halving in just two days. The inability of Bitcoin to stay above $ 10,000 and persuade investors on a strong uptrend is causing tension in the market. If Bitcoin will rise after the halving, according to experts, the final drop will require a lot of accumulation.

Is the Bitcoin rally over? What levels can be seen before halving?

According to some analysts, prices of $ 10,000 now seem impossible before halving. Most investors, BTC has remained optimistic that over 10 thousand dollars, and as a result, it was confirmed that BTC strong upward trend. In addition, analysts say the recent decline is by no means a sign of a changing trend.

Bitcoin, Ripple and Ethereum Fell Hard!  Here are Analysts' Market Forecasts

The crypto community also looks optimistic that Bitcoin has found a bottom of $ 8,500, and according to investors, BTC will make a strong return through re-aggregation. According to analysts, if whales buy BTC at the current low levels, Bitcoin may soon turn green and retest the $ 10,000 high. However, as long as Bitcoin is not back on the green board until halving, speculators can cause further declines after halving.

Samuel Hegi

Samuel Hegi , who first became acquainted with blockchain technology in 2014, is highly critical of blockchain technology. Samuel Hegi, a journalism graduate from the University of Brighton he is the editor-in-chief of the news portal. Blockchain is love.

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