Quote from: Ultegra134 on June 10, 2022, 01:35:17 PM

Hello there,
I'm not the kind of guy who bothers about its price and any predictions that pop-up, because I haven't let the downtrend affect me. I'm planning to accumulate as much Bitcoin as I can and hold it for a long period. However, an article was trending on my news feed and decided to check it out. According to the article, Bitcoin was supposedly capable of avoiding inflation, although, it seems to have been severely affected by it. The change in risk appetite, the tightening of monetary policies and the withdrawal of liquidity from the markets and, finally, the rapid rise in inflation show that the cryptocurrency market has been severely impacted.

George Savakis, with the help of the analyst Dimitris Tsantoy, a member of Elliot Wave trader community, are predicting a correction down to $20.000 - $23.000, while claiming that as long as Bitcoin is below $35.000, it's extremely unlikely to see a market recovery.

Source: https://www.euro2day.gr/investments/crypto/article/2136805/h-tehnikh-analysh-deihnei-nea-ptosh-toy-bitcoin-to.html

Translated to English:
https://www-euro2day-gr.translate.goog/investments/crypto/article/2136805/h-tehnikh-analysh-deihnei-nea-ptosh-toy-bitcoin-to.html?_x_tr_sl=en&_x_tr_tl=el&_x_tr_hl=el&_x_tr_pto=wapp

Bitcoin will always expect to dump more as long as bearish season is here. So crashing between $20k-$23k is not surprising as it could even fall below than that if possible. Bitcoin once fall into $3k and yet it recovers, so there is nothing new like this. Whatever the specific reason according to OP, but as long as the market remains having a crypto winter, there will always be price drops not only for bitcoin, but the whole market is in blood.