Bitcoin’s (BTC) price may experience a great dip in the upcoming days which may see its value drop by 50%. The latest prediction surrounding Bitcoin suggests that the largest cryptocurrency may record a 50% dip compared to its current trading price.
Fear Grows for Bitcoin Winter
With every passing day, the situation has been getting worse for Europe. The economic pressure has been rising in Europe, which may prove to be a great test for investors in the particular region.
If Europe is not able to succumb to the growing economic pressure and fears of a recession keep rising, then Bitcoin may feel great pressure.
A Highly Credible Analyst Makes a Fearful Prediction
One of the most credible and popular Bitcoin analysts has made the above prediction about the current performance of Bitcoin.
The veteran crypto analyst has predicted that the fear of recession is constantly rising in Europe. The fear may extend to other parts of the world, making the situation much worse for Bitcoin and major altcoins.
However, Bitcoin would be the center point of the dip, and it may fall greatly in the upcoming days.
Filbfilb Shares his Viewpoint on Bitcoin’s Demise
The creator of DecenTrader, a trading suite, Filbfilb talked about the performance of Bitcoin in recent days. As per the veteran analyst, Bitcoin has already started showing signs of a potential pull in price.
The month of July and August were great opportunities for Bitcoin to make the $20,000 level support mark. However, Bitcoin has failed to achieve that, which means that the investors do not have enough confidence in Bitcoin.
The analyst intimates the investors not to be distracted by the current trading price of Bitcoin, which is around $21,750, and not to mistake it for support.
According to Filbfilb, there is a great possibility that the Bitcoin price may hit the bottom by the end of 2022. Its price may fall all the way down to $10,000 as the running year comes to end.
Europe is Facing Severe Energy Crisis
The third-largest economy in the entire world is Germany, which is part of Europe. The particular country is facing a severe energy crisis and the rest of Europe is feeling its impact.
As the energy crisis continues to rise in Germany and the rest of Europe, it may soon create a panic in the trading markets. For now, the diplomats are trying to bring the situation under control and deals are being made with countries such as Iran to deal with energy shortages.
If the situation does not get any better, then the trading price of Bitcoin may hit $10,000 price. This would happen because the investors would start leaving the crypto markets and start investing in firmer and regulated assets.
Filbfilb is the same analyst who had predicted a $3,100 bottom price for Bitcoin in early 2018 when it was hitting an all-time high of $19k in late 2017.