Since it is the bear season and also because of TerraLUNA’s downfall, our crypto community has to stay strong. Have you ever wondered about Bitcoin's possible worst price in the upcoming years? Let’s find out together based on the research.
Bitcoin’s worst price possible
Veteran trader Gareth Soloway predicts a decline in the price of bitcoin. In a recent interview, he suggested that the worst-case scenario we might be facing is one that is comparable to the dot-com crash period, when Amazon's value fell by 95%. Then, "looking at a worst-case scenario, Bitcoin will hit $3,500," if that is what is happening.
When Should I Buy? – Bitcoin Price Prediction
Does this indicate that Soloway will purchase at that cost? "I have enough career experience to know that I don't choose precise lows. In other words, I'll start to accrue all the way below when I'm in my teens. At $13,000, I'll make a very small profit; at $10,000, I'll make a slightly larger profit. I do think that bitcoin will eventually reach $100,000 or perhaps $500,000. I won't try to choose a bottom and fail to do so. To develop that core position, I'll just dollar-cost average in this lower range.
By the way, this is not financial advice. DYOR as much as possible. According to experts, there is a risk-off mentality in advance of a recession. The U.S. central bank's hawkish efforts to control inflation are a significant factor bringing down the price of cryptocurrencies.
