Cryptocapital specialists agreed that Bitcoin has a year and a half left of falling prices.
In the latest edition of Capital Radio’s Cryptocapital, hosted by Sergio Fernández (@Sergio_fdez_7), specialists agreed that the current macroeconomic situation will slow down the recovery of Bitcoin, whose bearish forecasts remain between 12,000 and 15,000 dollars.
The Cryptocapital panel on September 30 was made up of the following experts:
SECRETO DEFI (@SecretoDefi).
Sebas Orc (@Sebas_Orc).
Fao the Wolf (@BrunoMarcial76).
The Host’s Opening Remarks
The Cryptocapital host of Capital Radio, Sergio Fernández (@Sergio_fdez_7) exposed the following:
“Last month’s close is an important date for Bitcoin, where volatility tends to increase. It is a difficult time for traders. There is a lot of pessimism, one of the worst moments in the crypto market. We don’t know what it takes for the market to stabilize. Bitcoin held up well in September against the NASDAQ, volatility. I don’t know if it is a turning point for its future price. Despite the problems, they do not stop printing tickets.”
Experts agree that “there are too many negative expectations”
Last week, the price of Bitcoin has fluctuated between $20,050 and $19,600, according to CoinMarketCap. BeInCrypto’s latest analysis reveals that Bitcoin has been in a bearish trend since the all-time high of $69,000 recorded in November 2021. Despite the price action of the previous weeks not breaking out of the range indicated above, the trading volume of BTC is slowly rising.
In this regard, Sebas Orc (@Sebas_Orc) highlighted the following:
“Cryptocurrencies and Bitcoin, I see that it is a market where we must consider everything external. There are factors that can benefit cryptocurrencies. Bitcoin is the first time you live it. The crisis, war. Now there are too many negative expectations. It is possible that we can see Bitcoin as a haven for investors, to protect their money a bit. The euro can now be compared to any currency.”
Meanwhile, SECRETO DEFI (@SecretoDefi) explained that the market is still “full of negative news”, with low spirits, although the market has discounted the price of BTC, and even investors continue to expect BTC “to drop to levels of 12,000 or $15,000”; however, he trusted that there will be no lower prices than the current ones.
“It is a matter of waiting, for the negative market sentiment to calm down. Perhaps there is little left to reach the worst. It is clear that neither this nor next year we will see bull runs and it will not reach all-time highs. Now we are experiencing the worst. There’s not much to do. It would be good for BTC if there was not so much correlation with the S&P 500. I am confident that Bitcoin is not dependent on the markets, but it still needs that correlation.”
Finally, panelist Fao the Wolf (@BrunoMarcial76) argued that the ideal is that the correlation between the price of Bitcoin and the S&P 500 “are not so identical”, since it could make the cryptocurrency “boring” before potential holders and investors.
“There is a lot of volatility and uncertainty. Macro news does not help the price, it only generates volatility and market manipulation. I think we expect the drop to be between $14,000 and $16,000 at the end of the year. It is difficult to predict the future. In the end, we are at a stage where fear must be faced as investors or traders. Currencies and cryptocurrencies or Bitcoin, now go hand in hand with the S&P 500. In a year it may break that parity, and be used as a store of value in the face of the fall of fiduciary currencies.”
By Audy Castaneda
