Bitcoin

Coin

<ul class="wp-block-list news-points">
 <li>Grey forecasts Bitcoin could fall to $44,000 due to market sell-offs and seasonal trends.</li>
 <li>The recent Mt. Gox Bitcoin distribution adds pressure on the market.</li>
 <li>Investors are advised to avoid panic selling and consider strategic buys or short selling</li>
</ul>
Crypto analyst Grey BTC warns that Bitcoin’s price could plummet to $44,000 in the coming weeks, citing market sell-offs and historical patterns. In a recent <a href="https://x.com/greybtc/status/1832075576040898668?t=Fgn4Q8lYsVxAA6wfxt_LmA&amp;s=19" target="_blank" rel="noopener noreferrer nofollow">video</a> posted on X, he urged crypto investors to reassess their strategies to navigate the anticipated downturn.
Grey highlights several key factors contributing to this prediction. A major factor is the ongoing distribution of Bitcoin from the Mt. Gox rehabilitation program. Mt. Gox, the defunct cryptocurrency exchange, recently began redistributing Bitcoin to creditors, leading to increased selling pressure. According to Grey, around 60,000 Bitcoins <a href="https://coinedition.com/mt-gox-continues-bitcoin-repayments-2-7b-still-held/" rel="noopener noreferrer nofollow">have already been distributed</a>, with more expected to be sold off, impacting the overall market.
He also pointed to September’s historically bearish trend in the crypto market, which could further fuel Bitcoin’s expected price drop. “September tends to be a down month for crypto,” he notes, underscoring how seas…
The post <a href="https://coinedition.com/brace-for-bitcoins-fall-analyst-strategies-as-44k-collapse-looms/" rel="noopener noreferrer nofollow">Brace for Bitcoin’s Fall: Analyst’ Strategies as $44K Collapse Looms</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Brace for Bitcoin’s Fall: Analyst’ Strategies as $44K Collapse Looms

Coin Edition

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