The CEO of Bitmex exchange has predicted that Bitcoin will plummet to the $30,000 range before bouncing to higher highs. The prediction was shared on Twitter on the 26th of April by Lark Davis from his verified account.
Lark posted a snapshot of Bitcoin and Ethereum price predictions, which he indicated were made by Bitmex’s CEO. Bitcoin was tipped to fall drastically to $30,000 while Ether was tipped to reach the $2500 levels.
Following the tweet, his followers shared their varying views in the comment section of the thread. Many agreed that Bitcoin will further plummet towards its one-year-low of $28,000 and a few even projected that its value will go lower in the coming weeks.
Bitcoin and Ether Price Analysis
BTC has experienced huge volatility in the past week, rising as high as $42900 before falling back to the $39000 region. On Monday, Bitcoin traded above $40,500 again. However, the slight rise in price was short-lived and the flagship cryptocurrency experienced a dip in price in less than 24 hours.
Bitcoin currently trades around $38.5k, which is about 43% below its all-time high. The ATH of $68.7k was reached last year November, and Bitcoin has struggled to reclaim that height.
Similarly, ETH has also experienced a significant retraction from its all-time high. Ethereum currently has a value of $2.8k, 41% off its ATH of $4.8K. Ethereum currently boasts a market cap of $348 billion with a 24-hour trade volume of $21.6 billion.
A good number of financial analysts in the crypto world believe that holders should not press the panic button just yet. However, a monthly close of BTC and ETH below the $39k and $2.8k marks respectively will signal strong bearishness in the crypto market.
