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Is the analyst's prediction that Bitcoin will plunge to the 60 yen range? Or is it a hoax!

BTC

Many prominent cryptocurrency analysts seem to be skeptical about the upcoming Bitcoin market. The key points are the expected bottom movement in May and whether Bitcoin will function as an "emergency digital currency".

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BTC

CatCat

Bitcoin plunge theoryWas out, but what happened to that story!

The world's investment market has fallen temporarily from the corona shock, but after that the crude oil price has been excluded.Rebound from lowsIs showing.

Bitcoin was also affected by the corona shock,Crash to 41 yen levelHowever, after thatMovement to return the priceIs showing.

I'd be happy if I could get it back to normal, but would it be so easy?

Some prominent analysts expect Bitcoin to plunge to around the 60 yen level.There was also a direction, and it was reported in Japanese news.

As of the end of April,Returning to nearly 90 yenBitcoin, is it going to return to normal as it is, or will it plunge again, as noted analysts point out? This is where I am concerned.

 

Analysts predicting a sharp drop in Bitcoin

Analyst
Bitcoin reached its highest price in December 2017, but after that in December 12Low price in the 30 yen rangeWith June 2019Return the price to nearly 150 million yenYou.

However, from there, it fell toward December of the same year, recovering the price from the bottom price in the same pattern as 12, showing an upward trend from the beginning of 2018.Rise to the 115 million yen levelIt will make you expect.

Under such circumstances,Due to this corona shock, I managed to keep the low price in December 2018, but I was disappointed with the expectation that "I will see you again!"Many investors would feel that.

Bitcoin can not escape from the pattern that if it rises, for some reason a large amount of sales will occur and it will fall, such a situation, even if you are not a prominent analyst, people who expect Bitcoin to go to the low price again from here There will be many.

Cryptocurrency analyst Michael van de Poppe said the price of Bitcoin is quite suspicious, and if it does not continue to rise, it may fall to the 60 yen level, April 4 Reporting.

Similarly, many well-known cryptocurrency analystsWarning that the price of Bitcoin is likely to fall rather than risedoing.

 

What is the reason for the sudden drop of Bitcoin

ボ ラ テ ィ リ テ ィ

Many well-known analystsThere are several reasons why the price of Bitcoin is bearishIt seems. Let's take a look at some representative items.

New coronavirus infection shows no sign of convergence

All probably for this reason, but it's still prevalent in the worldNew coronavirus infection is not showing signs of ending.

Emergency declarations have been issued in most major cities around the world, and mostEconomic activity virtually stoppeddoing.

It would be manageable to cancel the emergency declaration in May and return to normal economic activity, but if the emergency declaration were extended as it is, the economic loss would be enormous. (Emergency declarations have already been extended in many cities)

Stock market volatility remains high

The biggest reason for the anxiety of investment analysts around the world isStock market volatility remains highabout it.

VolatilityFear indexAs is sometimes called, it is always next to a plunge in a highly volatile market. In other words, volatility is often kept low, often with a rising market.

On the contrary,Volatility is high because sudden crashes and crashes will hit at once. Volatility remains high since the March Corona Shock, and the current investment market must always be prepared for a plunge. (Volatility is showing a downward trend in the final week of April and is expected.)

Crude oil price is temporarily negative

chart

April 4, at the New York Commercial ExchangeWTI crude oil futures price is one barrel (about 1 liters)-$ 117 (about -40.32 yen)And finally-$ 37.63 (about -4,040 yen)And, for the first time in history, it ended negatively. (There is no physical negative in CFD trading, so it dropped to a price of $ 0.01)

What does this mean?The stockpile of crude oil importing countries became full, and there was a negative price to get one barrel in the situation where there was no crude oil taker (It means that I paid 1 yen per barrel and got it)

Currently, many tankers loaded with uncollected crude oil are floating on the ocean.

April 4 was temporarily settled because it was the settlement date, and since then it has returned to the original price of $ 20 level, but this is the first time in history and due to the low global interest rate. There are many analysts who think that the crude oil price that has been bought as is may not be another matter for the virtual currency market.

Due to the new coronavirus infection, the world economy is beginning to show signs of unpredictability, and the crash of the oil return price beginsIt may be.

 

Stock market where recessionary stock prices are seen

Stock market

CatCat

In an uncertain economic situation due to the new coronavirus infection,The stock market has returned significantlyNya!

chart

This chart is a daily chart of New York Dow.

The New York Dow, which had risen to just before $ 3 level for the first time in history, plunged more than $ 1 due to the corona shock and dropped to $ 3 level on March 23..

But after thatRepulsion after the crashShowRebound up to $ 4 as of the end of AprilWe have achieved a half-value return. In some stock quotes, a half price return is called a full price return,Why is the stock market soaring in an uncertain economic situation?

The answer is that every country in the worldLarge-scale economic measuresWas also announced at the same time. Even if economic activity will be temporarily stopped in the future, the market believes that the current economic measures to fill the gap are taken. That is,Mini bubbleThere is a situation that should be called.

If the global economy resumes after the May holidays, the stock market may return to its original growth path with some twists and turns.

But the declaration of emergencyExtensionIf this happens, further economic measures will be demanded, and if countries around the world cannot cope with this, the stock market willGreat crashYou may end up doing it.

Current,Contingent gold prices continue to set record highs, functioning as risk hedgesdoing.

The problem is,Will Bitcoin look like an emergency gold quote, or will it have the same fate as the crude oil price quotes above?I guess.

 

The point where the second bottom is reached is the winning spot

Market

Now back to what crypto analysts are anticipating the fall of Bitcoin.

At the moment, many analysts are thinkingBitcoin is not synchronized with the "emergency gold" quote, and is likely to be bought in a temporary mini bubble like the stock market.I believe.

In other words, if the corona infection will continue for a long time to come, we think there is a good chance that it will fall. Of course, it seems that if economic measures are effective (when the corona outbreak has settled in the past 1-2 months), it will rebound like the stock market.

However, even in that case, the rule of thumb is2 bottomVery likely to visit you at that timeThe biggest point is whether you can keep the lowest price in MarchIt becomes.

The stock market is likely to move significantly in early May.Whether the stock market bottoms outOrPay attention to whether the virtual currency market price including Bitcoin will be synchronized with the stock market or will it function as an emergency digital currency.

 

Summary of bitcoin plummeting to 60 yen

BTC

Among the prominent crypto analysts, from here, as the stock market does,Even if it rises temporarily, I will go to the bottom of the bottomIt seems that there are many views.

And the point of the game isPoints to be able to protect the low price during the March corona shock.

If not protected, will Bitcoin sink like the stock market?Go backwards as an emergency digital currencyIt is attention.

Possibility of Bitcoin being low? Interesting bitcoin monthly chart!

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