Bitcoin is anticipated to undergo a prolonged period of challenges as it seeks to recover lost value and reach previous peak levels, according to investor Chris Burniske.
In a recent post on X (formerly Twitter) on January 25, Burniske, currently a partner at the crypto venture capital firm Placeholder, suggested that the price of Bitcoin could potentially decline to at least $30,000.
Burniske Predicts Lower Bitcoin Prices
Burniske suggests a minimum target of $30-36k before a local bottom, expressing the possibility of testing the mid-to-high 20s before a substantial move towards previous all-time highs. He anticipates a volatile path with potential fakeouts and expects the process to unfold over several months, extending beyond April’s block subsidy halving.
Continue to think we go lower to consolidate than most people expect due to variables that are too many to explain in detail via tweet (eg, crypto-market specific, macro, adoption, new product development). As for the denial o
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