Investors around the world are now worried that Bitcoin (BTC) may tumble down to the $10,000 price range. This pessimistic forecast comes after continuous selling pressure on Bitcoin for several months.
According to a survey, almost 69% of investors believe that Bitcoin will further lose its value and reach the $10,000 price range very soon.
Over the recent months, Bitcoin has been facing strong headwinds from government policies and interest rate hikes from central banks. However, the real dent in the BTC value can be attributed to the crash of stablecoin.
Around 25% of the people from the survey believed that the crypto asset class is garbage. Considering how many were praising BTC just a few months ago, this does seem to be an extreme shift.
But when we look at the BTC descent from $69000 to almost $10,000, it makes sense why people are so negative about this digital asset.
Currently, USA central bank is about to reveal the inflation data for the current month. If we get a higher inflation number, it will mean more interest rate hikes from the FED!
Economists believe that inflation will rise from 8.6% last month to almost 8.7% in the month of June.
According to experts, the situation is very fearful for the entire world, including cryptocurrencies. In fact, even the more established asset classes are facing serious problems right now. In that sense, the situation in crypto could get far worse in no time!
If we look at the current market situation, it clearly reflects the people's fear! Furthermore, more voices are rising for the proper regulation of government for the crypto markets.
What do you think about the future prices of Bitcoin and other altcoins? Do you also believe that BTC will dip below the $10K? Maybe you think that BTC will bounce off from $10K and eventually challenge the all-time high? Let us know in the comments!