Bitcoin: how much lower can it go, according to this cryptocurrency expert

With the price of Bitcoin at USD 16,000, some specialists assure that it is the ideal moment to buy, while others assure that its value will continue to decline.

During November, the price of Bitcoin ( BTC ) has presented the lowest value of the last two years, since at times it touched USD 15,000. In this discouraging context for investors, cryptocurrency specialists say that it is a good time to buy, although not everyone thinks the same.

Following the collapse of the world’s second-largest exchange, FTX, most digital currencies have seen their values ​​drop, but Bitcoin could fall even steeper, according to one analyst. 

BITCOIN: WHAT COULD HAPPEN TO ITS PRICE? 

Before the FTX crash, the Decentrader co-founder and cryptocurrency analyst, known as Filbfilb, has claimed in an interview with Cointelegraph that BTC could be trading at $10,000 by 2023 if the market doesn’t improve. 

However, as the digital asset market worsens, Filbfilb in conjunction with other Decentrader co-founder Philip Swift has reformulated his theory on “good levels” of supports and assured that it could eventually touch $6,000. 

In addition, the specialist also predicted a new “black swan” that could generate new bankruptcies of companies that represent the sector, which would trigger reaching USD 10,000 and then fall again.  

However, the analyst remarked that it would be “unlikely” for Bitcoin to fall below USD 6,000 based on the current context, according to the previously cited outlet.

 NEW BREAK IN THE CRYPTO WORLD 

After the fall of FTX and the crisis that the crypto company Genesis Global is going through, the BlockFi exchange has filed for bankruptcy for not being able to meet its financial responsibilities. 

Although this news did not affect the price of cryptocurrencies, the analyst and co-founder of Decentrader Filbfilb would not be so wrong with his theory about a possible “black swan”.