"Bitcoin (BTC) Could Fall Below $30,000 This Year... Reaching Long-Term Trend Resistance"
JH Kim
- 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.
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- Due to the nature of the technology, key content in the text may be excluded or different from the facts.
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.PiCK News
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