There is a possibility. Analysts are saying that the market will recover around mid 2023. So, if that’s the case, then we could expect the market to go as low as $8k.
Yep, there should be always a possibility but seems unlikely to drop to $8k if we consider its ATH.
Wich analysts predict the crypto market will recover in the mid of 2023? However, it makes sense if Bitcoin price begins to recover in the middle or the end of 2023 since there will be Bitcoin halving in May 2024. But this doesn't guarantee that Bitcoin will drop to $8k because there is still a lot of time for the bearish season.
Undoubtedly, a fall in bitcoin's value to $8000 will create a huge panic in the cryptomarket and massive sales of this asset.
Indeed. There is a possibility of a big change in crypto market if Bitcoin really drops to $8k. I can't imagine how people will panic to see a huge loss in their assets! I doubt many people starting to doubt crypto future. And I am not sure Bitcoin will create a new ATH if it drops too low.
But to be honest, I don't expect the price of bitcoin to drop to $8000 at all.
Me, too. I still believe the ATL will be above $10,000 if no big issues that probably bring negative impacts on crypto market.