BitMEX’s Top Trader And Whale Whisperer Eye’s $6,000 BTC Range; Here’s How Bitcoin Could Fall
- AngeloBTC, a BitMEX top trader and whale whisperer sees another 26% drop coming soon
If you are looking for a surge price, you might have to wait a bit longer and lose a bit more.
According to popular whale whisperer AngeloBTC’s tweet, which is getting a lot of love from Crypto Twitter (CT) with 2.6k likes till now, Bitcoin will soon make its way to $6,000.
Patiently waiting for $6k $BTC levels where I will add to long-term holdings.
Good luck homies.
— Angelo฿TC (@AngeloBTC) October 15, 2019
AngeloBTC, the former number one trader on crypto derivative platform BitMEX might not be right all the time but he is acknowledged for knowing what he is talking about. He is often described as a “market mover,” which is a no brainer given that he has been the number on margin trader on BitMEX, that offers up to 100x leverage.
Back in August when BTC price was trading around $10,000, he tweeted about the “long capitulation once we break $8k.”
During late September, after the Bakkt launch, Bitcoin price took a stumble below $7,700 and since then the price of the leading cryptocurrency has been hovering around $8,000.
Currently, Bitcoin is trading at $8,142 with 24 hours loss of 1.96 percent as per Coincodex.
Trading volume meanwhile remained low since the weekend, recording 279 million on top ten exchanges with real volume in the past 24 hours, as per Messari.
Another 26% Drop on BTC Value
In the past month, Bitcoin has lost over 20% of its value and more than 40% since hitting its 2019 high at $13,900. Now, in order to fall back to $6,000 level, Bitcoin would have to shed further 26% of its value.
As we recently reported, other experts like TraderX0 has been expecting BTC to fall in the low $6,000s as well if it breaks the $7,200 level. TradingShot’s popular analysis on TradingView also sees BTC falling to $6,500 in the first week of November.
However, to reach the $6,000 level, Bitcoin would have to pass through several key support areas that held support for the better part of the year.
A fall to the $6,000, however, would certainly be a golden ‘buy the dip’ opportunity for the BTC investors as AngeloBTC is expecting the flagship cryptocurrency to shoot right back up soon after.
Previously, he predicted that BTC price could surge to $30,000 by 2020, further stating, “The end goal for Bitcoin as an investment is a binary outcome. It goes to 0 or you 10x your investment. There is no in-between.”
However, $30,000 is an extremely conservative figure according to many experts that have been projecting a surge to $50,000, $100,000 and as high as $1 million.