Crypto investors need to keep their eyes on Bitcoin (CCC:BTC-USD) as some experts are warning that a crash could be on the horizon.
It looks like bitcoin has been running too far too fast and a correction could be on the way. When that happens, investors in the cryptocurrency could see major losses as it plummets back down to a more appropriate level.
“If the bitcoin price fails to break out above $60k soon, the momentum signals shown in Figure 9 will naturally decay from here for several months, given their still elevated level.”
JPMorgan isn’t the only expert that thinks a bitcoin crash is likely coming. Guggenheim Partners’ Scott Minerd believes the same. He said as much during an interview with CNBC this morning.
“I think we could pull back to $20,000 to $30,000 on bitcoin, which would be a 50% decline, but the interesting thing about bitcoin is we’ve seen these kinds of declines before.”
To be clear here, Minerd is still bullish on bitcoin. He just believes that it’s going to experience a major retreat before climbing to higher levels. The analyst says that the cryptocurrency could head as high as $400,000 to $600,000 per token.
Other experts are also expecting the cryptocurrency to increase in the long term. That includes the possibility that it could break the $100,000 milestone by the end of the year. We’ve got that and more price predictions for bitcoin at this link.
BTC is up 1.5% as of Wednesday morning.
Investors worried about bitcoin do have other options in the cryptocurrency space.
Just because bitcoin may experience a crash doesn’t mean investors should just give up on crypto. That includes the likes of Ethereum (CCC:ETH-USD), SafeMoon (CCC:SAFEMOON-USD), and Dogecoin (CCC:DOGE-USD). Investors can learn more about what’s happening with those cryptos at this link.
More Crypto News
- Buy Ethereum While Retail Investors Are Still in Charge
- SafeMoon Crypto: 11 Things to Know as SafeMoon Prices Rocket 100% Higher
- #DogeDay420: 16 Things for DOGE Investors to Know About the April 20 Dogecoin Holiday
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.