"Bitcoin (BTC) Could Fall Below $30,000 This Year... Reaching Long-Term Trend Resistance"
JH Kim
Summary
- Analyst Jacob King mentioned the possibility of Bitcoin falling below $30,000.
- Bitcoin has repeatedly crashed massively when hitting a resistance line that has persisted for 8 years.
- The current price of Bitcoin is down 4.51% from the previous day, at $97,728.93.
WhaleWire newsletter analyst Jacob King stated on the 7th (local time) on X (formerly Twitter) that "Bitcoin (BTC) is repeatedly hitting a trend resistance line that has persisted for 8 years and falling," adding that "every instance of hitting this resistance line has led to a massive crash."
He continued, "History is repeating itself," and added, "The target price for BTC in 2025 is below $30,000."
Jacob King is known as a Bitcoin skeptic who has consistently raised skepticism about Bitcoin, claiming that 'Bitcoin is useless.'
Meanwhile, BTC is trading at $97,728.93, down 4.51% from the previous day, based on the Binance Tether (USDT) market at 01:12 on the 8th.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
