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Analyst: Bitcoin price continues to fall, could become US$24,300.



Dylan LeClair, crypto analyst at Paradigm 21 said that Bitcoin price is falling steadily, possibly to US$24,300, based on recent developments.

Bitcoin price fell steadily Saturday (21/5/2022) to an intraday low of around US$29,728 on Bitstamp. This is the lowest since July 23, 2021. LeClair explained what the causes were and how the future projections were.

Dylan LeClair said that the worst may be far from over, as Bitcoin has historically fallen to its realized price, currently around US$24,300.

This is reflected in Glassnode's data, showing that BTC's hash rate is now at a one-month low. This reflects, that Bitcoin miners are withdrawing themselves from the mining business.


According to the Crypto Fear & Greed Index, the crypto market is now at the level of “Extreme Fear”, which reflects a very acute concern.




Similar projections were made earlier by several leading analysts. Leading Bitcoin analyst, Tone Vays argues, that the price of Bitcoin will strengthen after touching US $ 25 thousand, most likely November 2022. This reflects continued market decay, as Tone Vays himself had projected.


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