Bitcoin could tumble below $30,000 this year as the crypto bubble pops, Invesco says
$Bitcoin(BTC.CC$ could tumble below $30,000 this year as the air comes out of the crypto bubble, according to Invesco's list of "improbable but possible" outcomes for 2022.
"The mass marketing of bitcoin reminds us of the activity of stockbrokers in the run-up to the 1929 crash," Paul Jackson, the US investment company's global head of asset allocation, said in a note Monday.
"We think it is not too much of a stretch to imagine bitcoin falling below $30,000 this year," Jackson said, adding he believes there's at least a 30% chance of it happening.
$Bitcoin(BTC.CC$ soared in 2021 from around $33,000 at the start of the year to as high as $69,000 in November, before falling to end the year at roughly $46,000. The world's first and biggest cryptocurrency has since slumped further to trade at around $42,319 as of Monday, according to prices on the Bitstamp exchange.
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Revelation 6 : Bitcoin isn’t going to crash this year. As a matter of fact it’s going to see new ath’s with the expansion of cryptocurrency in to the new imaginary “Verses” that are being dreamed up. As long as the younger generations choose and can afford to live in their little fantasy worlds and face reality or grow up they will continue to buy imaginary mansions, cars and live the Hollywood life style while they own nothing in either world. But one day children will come along and that will go away like a garbage bag of dirty diapers. Then and only then will they realize the amount of time and money wasted on the purchase of nothing and the cryptocurrency’s like Bitcoin and ETH will crash hard. My guess is about 5-10 years. They will wake up from their wokeness and find that everything that they bought was nothing. All money will be lost and they are going to be mad. This is the ultimate wooden nickel or the ocean front property in Arizona scam we all heard about. This is better than the Nigerian Prince who needs you to send him a $1000.. This is happening and local, state and federal law enforcement officials are just letting it go. Bernie Madoff would be proud to put his name on this scam.
Susan BertolinoOP Revelation 6: $Bitcoin (BTC.CC)$ with that interest rate, bull run for crypto is coming
Revelation 6 Susan BertolinoOP: That could be true Ma’am and don’t get me wrong, I read most every column you write and have great respect for your opinion. But if inflation erodes the dollar and retail investors have to pay more for everyday expenses, that will leave less money for Bitcoin or any crypto. Since cryptos are only supported by fiat currency I think we should look a some times of great dispair in the future crypto markets also. I have already noticed boredom turning in to frustration on some comment sections. People becoming disillusioned and just pulling their money out and walking away. ang with $ETH gas prices choking cryptocurrency to death by being outrageous, it’s a real struggle to get fresh cash in to the market. Just saying.