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Image Source : PIXABAY Will Bitcoin fall to $13,000? Bitcoin (BTC) Price Prediction: The crypto markets have been witnessing a bloodbath. The dramatic sell-off has wiped out over $2 trillion worth of digital currencies from new peaks at the fag end of 2021. The global crypto market cap fell below $1 trillion on June 13 to hit an 18-month low. According to CoinMarketCap data, the global crypto market cap stood at $867 billion on June 15 afternoon, declining more than 10% over the last day. The two most popular cryptos — Bitcoin (BTC) and Ethereum (ETH) have seen significant erosion in their price this year. The two coins had hit all-time highs in November 2021 with BTC touching the $69,000 level and ETH $4,800. READ MORE: Bitcoin, Ethereum see massive dip in valuation – Here’s why According to CoinMarketCap data on Wednesday at 2 PM, Bitcoin has crashed more than 10% in the last 24 hours to trade at $20,200. In the last 7 days, the coin’s valuation has declined by nearly 34%. The total market cap of Bitcoin was $386 billion with the total dominance of 44.7%. Ethereum (ETH), the second most popular cryptocurrency after Bitcoin, has tumbled 16% in the last 24 hours to trade at $1,028. It has moved 43% southward in the last 7 days. The total market cap of ETH was $124 billion with the total dominance of 14.5%. Bitcoin at $13,000 soon? Abhijit Shukla, CEO and Director, Tarality, said that BTC could test the $19,400 level and if liquidation continues it can also touch $13,700 soon. “The next few days are very crucial,” he said. Image Source : INDIA TVBitcoin price prediction Manoj Dalmia, founder and director, Proaasetz Exchange, said that Bitcoin is dipping continuously and has reached a 200 weekly moving average. Bitcoin has good support at $20,000 which is also the all-time high of 2018. $18,000 is a strong support zone or a zone of accumulation. “If Bitcoin sustains this zone ($20,000), we might see a short upward movement,” he said, adding that assuming any crash to the level of $15,000 or below appears will be unwise for now. “If it sustains the current level on a weekly closing basis, then a quick movement towards $25,000 is possible. $29,000 will act as a resistance and on a volume breakout it can lead to $35,000.” He explained that the cycle of the Bitcoin movement is very interesting as in the last 12 years it has always achieved a strong mark of all-time high after creating a low. From almost $0 (the founding day) to $68,000, the cycle of Bitcoin has touched both low and high every year and interestingly the low is always the last cycle ATH. READ MORE: Cryptocurrency market cap under $1 trillion first time since January 2021 Latest Business News
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