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The trader named the levels after which the value of the first cryptocurrency will go into a deep decline
Bitcoin will survive another 80% crash during the next bear market, PlanB analyst is confident. He recalled that in May, when the Chinese authorities banned mining, the value of the first cryptocurrency fell by more than 50%.
“I am one of the few people who really believe in the next bear market. Many say the four-year cycles are over and the market will no longer have that much volatility. However, an 80% correction is not ruled out, ”PlanB emphasized.
In his opinion, a deep decline in the price of the first cryptocurrency will begin after the price of bitcoin reaches the targets stipulated by the S2F and S2FX models ($ 100,000 and $ 288,000, respectively).
“If Bitcoin reaches $ 100K in a couple of months, FOMO will start and it will continue to grow. Then something terrible will happen: another ban in China, in India or something like that. Everyone is scared again. I think that fear and greed will remain in bitcoin, ”the analyst said.
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