Coin Bureau: Bitcoin could crash to $10,000 in three months

A popular cryptocurrency analyst, host of the YouTube channel Coin Bureau, believes that bitcoin has not yet reached the bottom.. According to an anonymous blogger, we should expect BTC to fall to $10,000 during the first three months of 2023. In his release on YouTube, the analyst said that soon bitcoin may well lose 60% of its capitalization.. The driver of the decline should be the decision of the US Federal Reserve on the base rate – if the US Central Bank stops raising the rate, then the stock and other markets will simply collapse. “We will see the bottom of the cryptocurrency market in the first quarter of next year. I think bitcoin will fall to $10,000, and the decrease in altcoins will be from 60% to 80%. The main reason is expected to be the Fed's halt in rate hikes.. But, I emphasize, this does not mean a reduction in rates, so the cryptocurrency will not fall below the specified limit, ”an anonymous analyst reasoned. According to the author of the Coin Bureau channel, the stock market is expected to decline by 20% or 30% in the coming months. And the cryptocurrency market is more volatile, so it will go down by 40% or 60%. The expert advised investors to transfer all coins to cold wallets so that in the event of the collapse of cryptocurrency companies, the assets themselves remain with users. So people can keep their assets and, with the growth of the market, make a profit. Recently, Ryan Selkis, the CEO of analytics firm Messari, said that both fundamental and technical analysis speak of Bitcoin rising in the medium term.