Renowned trader John Bollinger predicts a Bitcoin fall to $30,000 but sees it as a buying opportunity

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2050

If support around $40,000 is destroyed, John Bollinger, a legendary trader, thinks the price of Bitcoin might fall to as low as $30,000, a situation that requires market traders’ attention.

Legend Bitcoin might go as low as $30,000, who established Bollinger Bands. It was created in the early 1980s. In a tweet, he expressed his thoughts on the present state of Bitcoin.

Traders often make the error of being hesitant to purchase while prices decrease. According to John, people should keep a watch on Bitcoin if it drops below $40,000 since it might crash below $30,000. However, even if Bitcoin falls below $40,000, John believes this is a wonderful moment to purchase additional Bitcoin.

According to him, holders of digital currencies should be aware of the $40,000 support, which might be lost. If this occurs, Bitcoin’s market value might plummet below $30,000, a loss of another 25%.

He thinks that people looking to acquire additional Bitcoin should take advantage of the current drop and invest in the 30K level.

Mike Novogratz and Bollinger have opposing viewpoints. Novogratz, a billionaire, views the dip in Bitcoin’s price as a chance to purchase near the $40,000 level.

Bitcoin’s price has dropped 10.72 percent in the last seven days, according to statistics provided by CoinMarketCap. In addition, Bitcoin trade volume has dropped by 26.71 percent in the last 24 hours, and the Bitcoin decline has continued, with the cryptocurrency losing 14% of its value in the last 30 days.

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