Bitcoin Price falls below $27,000 again – is the Crash CONFIRMED?
Bitcoin price fell quickly again and got back below the $ 27,000 mark. Is this a sign that the Bitcoin crash can no longer be averted?
The Bitcoin price was able to rise above the $28,000 mark again in the last few days and investors’ hopes of a bull run above $30,000 grew again. But ultimately the Bitcoin price fell quickly again and got back below the $ 27,000 mark. Is this a sign that the Bitcoin crash can no longer be averted?
How did Bitcoin price Perform in the last few days?
The Bitcoin price has seen a stronger bull run again in the last few days. The price rose from under $26,500 back above the $28,000 mark within 3 days. At its peak, the Bitcoin price rose above $28,300.
But as a result, the Bitcoin price could not hold this mark and recently fell below $ 28,000 again. In the last 2 days, the decline continued and the Bitcoin price fell back below the $27,000 mark. The rise of the last few days has now almost disappeared again.
Will Cryptos Crash?
Bitcoin price once again failed to establish new support above the $28,000 mark after several weeks of sideways movement. This would be the first step for the Bitcoin price to climb back above the $30,000 mark. A sustained bull run towards $40,000 would be possible from this level.
Bitcoin’s rejection of $28,000 could be a bearish sign for the next few weeks. This is extremely relevant these days as the Bitcoin price is at a turning point. In June, the BTC price could either see a crash towards $20,000 or rise well above $30,000 again.
Will Bitcoin crash to $20,000?
The Bitcoin price has not been able to hold the $28,000 mark in the past few days. The key support on the downside right now is the $26,000 level. If this mark falls, the BTC price could drop significantly and quickly fall below $25,000.
A crash to $20,000 now seems possible for many analysts. Nevertheless, we must note that monetary policy should ease again for the US dollar, which should strengthen Bitcoin. This bullish influence makes a strong Bitcoin crash less likely.
Nonetheless, a short-term drop below $25,000 is still possible. However, we do not see a drop to $20,000 as investors should quickly buy cheaply on a crash as they anticipate rallies in the medium and long term.
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Rudy Fares
Equity Trader, Financial Consultant, Musician and Blockchain Aficionado. I spend my time doing Technical and Fundamental Analyses for Stocks, Currencies, Commodities and Cryptocurrencies.
Regular updates on Web3, NFTs, Bitcoin & Price forecasts.
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