Cryptocurrency analyst, Justin Bennett is bearish on Bitcoin (CRYPTO: BTC) and is warning that the apex cryptocurrency could reach levels $10,000 to $15,000.
What Happened: Bennett in a post on Jan. 23 said, "$10-$15k $BTC is still in the cards, IMO. Sure, COVID was a black swan, but it's not like we don't have a laundry list of systemic issues to choose from this time around. The chart speaks for itself."
The cryptocurrency analyst in another tweet on Thursday said Tether dominance chart suggests another 20% lower for Bitcoin.
"This moves inversely to Bitcoin, and the levels on this chart have been spot on since October. It would put BTC around $30k."
See More: Dogecoin HODLERs Are Beating Shiba Inu With 57% Landing In Profits, IntoTheBlock Data Reveals
Why It Matters: Since the introduction of spot exchange-traded funds (ETFs) in the United States earlier in the month, Bitcoin has seen a decline. Over the past two weeks, subsequent to the ETF launch, BTC has dipped by 14%.
It should be noted that the BTC ETFs are experiencing combined negative flows for the first time since their trade debut on Jan. 11. According to data collected by Bloomberg Intelligence analyst James Seyffart, the 10 spot Bitcoin ETFs, including GBTC, experienced a net outflow of $158 million on Wednesday.
Price Action: BTC was trading at $40,012, up 0.18% in the last 24 hours, according to Benzinga Pro.
Read Next:Here's How Much You Should Invest In Shiba Inu Today For A $1M Payday If SHIB Hits 1 Cent?
Cryptocurrency analyst, Justin Bennett is bearish on Bitcoin (CRYPTO: BTC) and is warning that the apex cryptocurrency could reach levels $10,000 to $15,000.
What Happened: Bennett in a post on Jan. 23 said, "$10-$15k $BTC is still in the cards, IMO. Sure, COVID was a black swan, but it's not like we don't have a laundry list of systemic issues to choose from this time around. The chart speaks for itself."
The cryptocurrency analyst in another tweet on Thursday said Tether dominance chart suggests another 20% lower for Bitcoin.
这位加密货币分析师在周四的另一条推文中表示,泰达币的主导地位图表显示比特币再下跌20%。
"This moves inversely to Bitcoin, and the levels on this chart have been spot on since October. It would put BTC around $30k."
“这与比特币成反比,自10月份以来,这张图表上的水平一直保持不变。这将使比特币投入约3万美元。”
See More: Dogecoin HODLERs Are Beating Shiba Inu With 57% Landing In Profits, IntoTheBlock Data Reveals
查看更多: intoTheBlock 数据显示,狗狗币持有者正在击败柴犬,利润为57%
Why It Matters: Since the introduction of spot exchange-traded funds (ETFs) in the United States earlier in the month, Bitcoin has seen a decline. Over the past two weeks, subsequent to the ETF launch, BTC has dipped by 14%.
It should be noted that the BTC ETFs are experiencing combined negative flows for the first time since their trade debut on Jan. 11. According to data collected by Bloomberg Intelligence analyst James Seyffart, the 10 spot Bitcoin ETFs, including GBTC, experienced a net outflow of $158 million on Wednesday.