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Legendary Trader John Bollinger Believes Bitcoin Can Crash To $30,000 But Also Signal This As A Buying Opportunity

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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.

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.

 

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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Disclaimer

The content is for informational purposes only and may include the author’s personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

Mark Brennanhttps://thecryptobasic.com/
Mark Brennan has been active in the cryptocurrency sector since 2014. His love and passion for the nascent industry drove him to develop interest in writing about important developments and updates about cryptocurrencies and blockchain. Brennan, who holds a Masters degree in Business Administration, learned about the potential of blockchain technology. Aside from crypto journalism, Brennan runs an education center, where he educates people about the asset class.

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