Legendary trader John Bollinger believes the price of Bitcoin could trade as low as $30,000 if support at $40,000 is lost, a moment that calls for the attention of market traders.
Legend John Bollinger is expecting Bitcoin to be as low as $30,000. If you are a trader, you have undoubtedly used Bollinger Bands. Yes, this is the guy who created Bollinger Bands. John Bollinger is famous for creating Bollinger Bands in the early 1980s, one of the most renowned trading tools. He shared his view on Bitcoin’s current situation in a tweet.
One of the common mistakes for traders is they are reluctant to buy when prices are falling. John believes if Bitcoin price fell below $40,000, people need to keep an eye on Bitcoin as it may dump to $30,000. John thinks this is a great time to buy more Bitcoin even if Bitcoin does fall below $40,000.
According to him, digital currency holders should pay attention to the support of $40,000, which could be lost. If that happens, Bitcoin can fall to $30,000, losing another 25% of its market value.
He believes the 30K range would suit those who want to buy more Bitcoin and should take advantage of this correction.
Attention $btc HODLers. We are pulling into an important accumulation zone (logical place). If/when we find support you may want to consider adding to your bags here. If not, HODL on; another opportunity will present itself.
— John Bollinger (@bbands) January 7, 2022
Bollinger’s opinion is not the same as Mike Novogratz’s. Billionaire Novogratz sees Bitcoin’s drop as a buying opportunity in the $40,000 range.
We entered the buy zone….
— Mike Novogratz (@novogratz) January 7, 2022
According to data shared by CoinMarketCap, Bitcoin price has been reduced by 10.72% in the past seven days. In the past 24 hours, Bitcoin trading volume has been reduced by 26.71%, and the Bitcoin downtrend continues as Bitcoin loses 14% of its value in the past 30 days.
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