Worth, who is the chief market technician of Cornerstone Macro, said that there is a possibility that Bitcoin could drop further to the $29k region. He said during a Monday appearance on CNBC’s Fast Money segment that a 55% correction from Bitcoin’s all-time highs is still very likely, considering previous price dips.
The CNBC’s “Chartmaster” asserted that $45,000 represents the top of a support zone for Bitcoin. If prices dropped by 55%, the digital asset will be in the “lower end of [its] support.”
Following the negative publicity generated by Tesla’s CEO Elon Musk, the mood among mainstream media on Bitcoin and altcoins is cautious. “Extreme Fear” has also gripped the market, which has been swimming in “Greed” and “Extreme Greed” in the past few months.
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Source: Cryptocurrency - investing.com
