The influencer and digital asset analyst, Tyler Swope, issued his thoughts on the most recent BTC crash and when will the unsettled price ultimately settle.
In Tyler’s most recent strategy discussion, the analyst spoke to his 250k subscribers on Youtube about BTC will probably face another bear trap but, that will be the last one and, after that, it is just upward movement for the largest cryptocurrency in the world. However, the prominent digital currency has struggled to bounce back to the $40k mark after it had plummeted to $30k at the end of May.
Tyler still thinks the asset will face another rejection near the $40k mark as Tesla CEO Elon Musk extends his cryptic tweets regarding BTC.
As Tyler stated, that we have hit the peak of $40k twice and got rejected twice as well, so this will probably the last rejection before bouncing back because of Elon’s tweets.
Tyler was so confident in his predictions that he has even issued a date that he thinks BTC will execute its last correction to $30k. The analyst thinks the bear trap will end on the 13th of June 2021. He carried on stating it is likely that BTC can dip down so low those even veteran dealers like himself do not believe in return for the cryptocurrency. However, the analyst asserted that crypto traders shouldn’t be puzzled by the declining trend.
Tyler added veterans like him would not hesitate so easily in normal routine but, if Bitcoin plummets back to $30k, he will be bitting his nails regardless if he has forecasted it before.
Peter, another veteran trader, tweeted to his followers that BTC could crash down near the $20k mark in a crisis as the tweet reads, that it is significant to have the perspective on holding Bitcoin in an appropriate portion with money that one can allow to lose in worst-case situations. Previously, we have seen Bitcoin reach close to $64,700, and then the Bitcoin market corrected the asset to $30k. Looking at the worst-case scenario, the veteran thinks of Bitcoin approximately reaching the $21k mark. Hence, it would be foolish to bail out non-leveraged longs when the crypto market posses 80% of the worst drop.
