{"id":605073,"date":"2024-04-25T17:00:08","date_gmt":"2024-04-25T17:00:08","guid":{"rendered":"https:\/\/uniquehot.com\/?p=605073"},"modified":"2024-06-11T07:02:44","modified_gmt":"2024-06-11T07:02:44","slug":"if-bitcoin-cant-hold-60000","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/if-bitcoin-cant-hold-60000\/","title":{"rendered":"Renowned Economist Reveals What Will Happen If Bitcoin Can\u2019t Hold $60,000"},"content":{"rendered":"

Chief economist and Bitcoin critic, <\/span>Peter Schiff <\/span><\/a>has issued a <\/span>somber prediction<\/span><\/a> regarding the world\u2019s largest cryptocurrency, Bitcoin. The financial expert has cautioned investors of the potential repercussions should <\/span>BTC drop below critical resistance levels.<\/span><\/a><\/p>\n

Economist Predicts Bitcoin Price Decline<\/h2>\n

In a recent X (formerly Twitter) post, Schiff <\/span>shared<\/span><\/a> a price chart of Bitcoin against the United States Dollar (USD), pinpointing Bitcoin\u2019s price at the time of the post at $63,814, alongside key <\/span>support levels around $60,000<\/span><\/a>. The economist has argued that Bitcoin\u2019s current price position was not conducive for <\/span>HODLers<\/span><\/a>.\u00a0<\/span><\/p>\n

Related Reading: Brace For Impact: Worldcoin Team Plans To Sell 1.5 Million WLD Tokens Every Week For 6 Months<\/a><\/div>\n

Emphasizing the importance of BTC maintaining a stronghold above $60,000, Schiff urged investors to proceed with caution and hope that the cryptocurrency successfully sustains support levels. He also predicted that if Bitcoin failed to hold critical support levels, a <\/span>substantial price decline<\/span><\/a> would be inevitable.\u00a0<\/span><\/p>\n

While Schiff\u2019s predictions may appear to align with his usual skepticism towards Bitcoin, the timing of his warnings coincides with a <\/span>period of heightened uncertainty and volatility<\/span><\/a> surrounding Bitcoin\u2019s price.\u00a0<\/span><\/p>\n

The cryptocurrency is currently trading at $63,909, marking a notable decrease from its previous all-time high of over $73,000 before the halving event. Data from CoinMarketCap has revealed a <\/span>series of declines<\/span><\/a>, with Bitcoin experiencing a 3.75% drop in the last 24 hours and a 4.38% decrease over the past month.\u00a0<\/span><\/p>\n

This underscores the <\/span>uncertain price condition of the pioneer cryptocurrency<\/span><\/a>, hinting at the possibility of further declines unless the cryptocurrency makes a quick price correction.\u00a0<\/span><\/p>\n

Schiff has stated that while experienced Bitcoin holders are accustomed to large price drops and periods of volatility, new investors who have recently entered the <\/span>Spot Bitcoin Exchange Traded Fund (ETF)<\/span><\/a> market should be prepared for a \u201crude awakening.\u201d<\/span><\/p>\n

Crypto Analyst Says Potential Upsurge In Store For BTC<\/h2>\n

On Monday, April 22, prominent crypto analyst, Ali Martinez shared insights on <\/span>Bitcoin\u2019s future price trajectory<\/span><\/a> in an X post. Martinez <\/span>noted<\/span><\/a> that the price of Bitcoin was steadily rising, aiming to secure new highs around $66,000.\u00a0<\/span><\/p>\n

Related Reading: Shiba Inu Exchange Balances Reach New Low As SHIB Bounces Off Golden Ratio<\/a><\/div>\n

The crypto analyst predicts that if Bitcoin can successfully <\/span>break past key support levels<\/span><\/a> at $66,000, the cryptocurrency’s next critical resistance level would be between $69,900 and $71,200. Despite this optimistic forecast, Martinez has also <\/span>warned<\/span><\/a> investors about a potential pullback, emphasizing the importance of exercising caution and closely monitoring Bitcoin\u2019s price if it falls below $65,500.<\/span><\/p>\n

With Bitcoin currently priced at $63,909, it has fallen notably below the key support level highlighted by Martinez. This continuous price decrease could be attributed to recent trends <\/span>indicating<\/span><\/a> that <\/span>Bitcoin\u2019s accumulation<\/span><\/a> score has dropped to zero. This suggests that whales may be <\/span>moving away<\/span><\/a> from the pioneer cryptocurrency or refraining from accumulating Bitcoin at its present price level.\u00a0<\/span><\/p>\n

\"BitcoinBTC price falls toward $63,000 | Source: BTCUSD on Tradingview.com<\/a><\/pre>\n
Featured image from AMBCrypto, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Chief economist and Bitcoin critic, Peter Schiff has issued a somber prediction regarding the world\u2019s largest cryptocurrency, Bitcoin. The financial expert has cautioned investors of the potential repercussions should BTC drop below critical resistance levels. Economist Predicts Bitcoin Price Decline In a recent X (formerly Twitter) post, Schiff shared a price chart of Bitcoin against the United States Dollar (USD), pinpointing Bitcoin\u2019s price at the time of the post at $63,814, alongside key support levels around $60,000. The economist has argued that Bitcoin\u2019s current price position was not conducive for HODLers.\u00a0 Related Reading: Brace For Impact: Worldcoin Team Plans To Sell 1.5 Million WLD Tokens Every Week For 6 Months Emphasizing the importance of BTC maintaining a stronghold above $60,000, Schiff urged investors to proceed with caution and hope that the cryptocurrency successfully sustains support levels. He also predicted that if Bitcoin failed to hold critical support levels, a substantial price decline would be inevitable.\u00a0 While Schiff\u2019s predictions may appear to align with his usual skepticism towards Bitcoin, the timing of his warnings coincides with a period of heightened uncertainty and volatility surrounding Bitcoin\u2019s price.\u00a0 The cryptocurrency is currently trading at $63,909, marking a notable decrease from its previous all-time high of over $73,000 before the halving event. Data from CoinMarketCap has revealed a series of declines, with Bitcoin experiencing a 3.75% drop in the last 24 hours and a 4.38% decrease over the past month.\u00a0 This underscores the uncertain price condition of the pioneer cryptocurrency, hinting at the possibility of further declines unless the cryptocurrency makes a quick price correction.\u00a0 Schiff has stated that while experienced Bitcoin holders are accustomed to large price drops and periods of volatility, new investors who have recently entered the Spot Bitcoin Exchange Traded Fund (ETF) market should be prepared for a \u201crude awakening.\u201d Crypto Analyst Says Potential Upsurge In Store For BTC On Monday, April 22, prominent crypto analyst, Ali Martinez shared insights on Bitcoin\u2019s future price trajectory in an X post. Martinez noted that the price of Bitcoin was steadily rising, aiming to secure new highs around $66,000.\u00a0 Related Reading: Shiba Inu Exchange Balances Reach New Low As SHIB Bounces Off Golden Ratio The crypto analyst predicts that if Bitcoin can successfully break past key support levels at $66,000, the cryptocurrency’s next critical resistance level would be between $69,900 and $71,200. Despite this optimistic forecast, Martinez has also warned investors about a potential pullback, emphasizing the importance of exercising caution and closely monitoring Bitcoin\u2019s price if it falls below $65,500. With Bitcoin currently priced at $63,909, it has fallen notably below the key support level highlighted by Martinez. This continuous price decrease could be attributed to recent trends indicating that Bitcoin\u2019s accumulation score has dropped to zero. This suggests that whales may be moving away from the pioneer cryptocurrency or refraining from accumulating Bitcoin at its present price level.\u00a0 BTC price falls toward $63,000 | Source: BTCUSD on Tradingview.com Featured image from AMBCrypto, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":605087,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,656,679,1119,89185,1122,1144,78790],"class_list":["post-605073","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-price","tag-btc","tag-btc-news","tag-btc-price","tag-btcusd","tag-btcusdt"],"acf":[],"yoast_head":"\nRenowned Economist Reveals What Will Happen If Bitcoin Can\u2019t Hold $60,000<\/title>\n<meta name=\"description\" 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During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/uniquehot.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Renowned Economist Reveals What Will Happen If Bitcoin Can\u2019t Hold $60,000","url":"http:\/\/uniquehot.com\/news\/if-bitcoin-cant-hold-60000\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/if-bitcoin-cant-hold-60000\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/04\/Bitcoin-Small-3.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/04\/Bitcoin-Small-3.jpeg?fit=320%2C213"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin news","bitcoin price","btc","btc news","btc price","btcusd","btcusdt"],"dateCreated":"2024-04-25T17:00:08Z","datePublished":"2024-04-25T17:00:08Z","dateModified":"2024-06-11T07:02:44Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Renowned Economist Reveals What Will Happen If Bitcoin Can\\u2019t Hold $60,000\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/if-bitcoin-cant-hold-60000\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/if-bitcoin-cant-hold-60000\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/04\\\/Bitcoin-Small-3.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/04\\\/Bitcoin-Small-3.jpeg?fit=320%2C213\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin news\",\"bitcoin price\",\"btc\",\"btc news\",\"btc price\",\"btcusd\",\"btcusdt\"],\"dateCreated\":\"2024-04-25T17:00:08Z\",\"datePublished\":\"2024-04-25T17:00:08Z\",\"dateModified\":\"2024-06-11T07:02:44Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/04\/Bitcoin-Small-3.jpeg?fit=320%2C213","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/605073"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=605073"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/605073\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/605087"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=605073"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=605073"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=605073"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}