BitMEX co-founder Arthur Hayes and Mobius Capital Partners CEO Mark Mobius noted that in the near future bitcoin may fall to the round level of $10,000. In this case, it will aggravate the already difficult situation of the cryptocurrency industry.
The wave of negativity against the background of the FTX collapse is still being felt. It is noteworthy that the BlockFi crypto lender has become another victim of a spreading “infection”. Other profile companies represented by Genesis Global and Gemeni are now on the verge of a full-scale collapse.
However, according to experts, the greatest blow was caused by the undermined investor confidence in the crypto industry. Against this background, it is not surprising that the flagship digital asset has dropped from $21,000 to $16,000 in just a month.
Zhong Yang Chan, head of research at CoinGecko, believes that so far bitcoin has managed to find support in the region of $ 16,000. However, there are no concrete fundamental reasons for the emergence of a bullish impulse now. Moreover, the potential bankruptcy of Gemini or Genesis Global may well provoke a wave of sales in the market, the expert stressed.
In turn, the representative of IntoTheBlock Juan Pelliser is more optimistic about the current situation. The analyst believes that the fall of bitcoin up to $ 10,000 now seems extreme. To do this, an extremely negative catalyst must appear on the market. At the same time, he did not rule out that the global bearish trend could last another 12 months.