BTC boom heading for a slump

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Updated September 21, 2022 | Published November 20, 2020

2 mins read

Bitcoin has skyrocketed in a fashion unseen since 2018, when people started taking mortgages on their homes to purchase BTC, only to find the cryptocurrency crashing days later.

Today, investors, and even ordinary stakeholders, have become wiser as they should be because Bitcoin may be in for another sudden drop.

In fact, CryptoWhale predicts that Bitcoin will collapse to sub-$10,000, which would be a big difference for anyone buying right now. Yet, there is no specific timeframe as to when this is going to happen.

One way this could happen is if whales unload their supply to cash in liquidity, sending the currency into a downward spiral.

Meanwhile, the FOMO phenomenon, known as a fear of missing out, is at an all-time high, says CryptoWhale's Twitter account.

Yet, CGN advises against investing in Bitcoin at this moment, as the currency won't be able to climb much past its previous all-time record, most observers speculate. Bitcoin had a long period of doldrums, which kept the currency low.

In the past few weeks, though, it has been climbing steadily to reach $18,233.50 at time of reporting.

Bitcoin enthusiasts have also been busy playing at blockchain and crypto websites, including Bitcasino, 1xBit, FortuneJack.

Want the chance to win an iPhone 11 Pro? Then take a couple of minutes to complete our CGN survey.

Alex

Alex is a well-rounded crypto writer who focuses on general market and legal developments. His main interest lies in how crypto gaming can become a more permanent part of the gaming landscape and how blockchain holds benefits to players they are not even aware of.

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Looking for your next crypto casino? Check out: Bitcasino or FortuneJack.

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