Experts Believe BTC Could Hit $10k Bottom in Next Few Months

03-Jul-2022 By: Simran Mishra

Experts Believe BTC Could Hit $10k Bottom in Next Few Months

Many cryptocurrency aficionados are enthusiastic about the future value of Bitcoin, but many others are gloomy, due to the low trading volume and falling price of BTC on the global crypto market.

The price of BTC is coming much closer to a generational bottom, which is fantastic news for the currency. The bad news is that it could just be a few months away and that this bottom might be as low as $10,000.

According to reports, the increase in inflation expectations and bad policy decisions by central banks worldwide served as the impetus for BTC to reach this level. In other words, these elements worked in concert to set up the ideal situation for the anticipated BTC bottom near the $10k mark.

Notably, some crypto traders think the opposite is true because selling pressure has already risen to unnaturally high levels as a result of occurrences like the Luna Foundation Guard selling $2.4 billion worth of its Bitcoin reserves, Celsius declaring bankruptcy, and Three Arrows Capital being liquidated.

Positively, Bitcoin is currently in a position where it will provide investors with a generational buying opportunity (GBO) over the coming several months.

According to CoinGabbar, BTC is presently valued at $19,220.20 after falling by 1.61 percent in value during the previous day and hitting a high of $19,666.34 during that time. Additionally, during the past seven days, BTC has decreased by 10.65%. Also, the 24-hour trade volume for BTC has decreased by 18.27 percent and is presently at $26,620,428,933.

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