Bitcoin

Read

Daily

<p>The post <a href="https://coinpedia.org/news/heres-why-the-bitcoin-price-may-crash-toward-40k/" rel="noopener noreferrer nofollow">Here’s Why the Bitcoin Price May Crash Toward $40K</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p><a href="https://markets.coinpedia.org/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin</a> briefly fell below $60,000 on Monday after news that defunct bitcoin exchange <a href="https://coinpedia.org/news/jpmorgan-predicts-potential-market-crash-from-mt-gox-creditor-sales/" target="_blank" rel="noopener noreferrer nofollow">Mt. Gox</a> is set to distribute around $9 billion worth of bitcoin and bitcoin cash repayments starting in July.</p>
<p>In a recent strategy <a href="https://www.youtube.com/watch?v=6JW1RxAyGFw" target="_blank" rel="noopener noreferrer nofollow">session</a>, Aaron from Altcoin Daily analyzed that Wall Street investors are actively working to reduce Bitcoin’s price. They believe that these institutional players see current prices as too high for entry and are pushing for a drop to around $40,000. This theory is built on the idea that Wall Street is leveraging its influence through various tactics to create a market correction.&nbsp;</p>
<p>Here’s how they’re allegedly doing it:</p>
<h2 class="wp-block-heading" id="h-bitcoin-price-ranges"><strong>Bitcoin Price Ranges</strong></h2>
<p>Historically, Bitcoin’s price has ranged from highs of $73,000 to lows of $55,000. Analysts noted that Wall Street aims to push Bitcoin’s price down from these highs to more attractive entry points for future investments.&nbsp;</p>
<p>However, the launch of <a href="https://markets.coinpedia.org/bitcoin-etf/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin ETFs</a>, including those from major players like BlackRock, is seen as a double-edged sword. While these ETFs represent institutional acceptance, they might also be used strategically to lower Bitcoin’s price.</p>
<h2 class="wp-block-heading" id="h-peter-thiel-s-changing-views"><strong>Peter Thiel’s Changing Views</strong></h2>
<p>Moving on Aaron analyzed the recent statement by Former PayPal CEO Peter Thiel, a prominent investor, and Bitcoin supporter. Thiel expressed skepticism about Bitcoin’s future growth and said that he is not buying Bitcoin as of now. A notable shift from his previously bullish stance.&nbsp;</p>
<p>Thiel had previously championed Bitcoin as a revolutionary technology that could challenge traditional financial systems. He now questions whether Bitcoin still holds the same potential, suggesting that the cryptocurrency may have been co-opted by institutional forces rather than maintaining its original anti-establishment ideals.</p>
<p>Despite these reservations, Thiel’s investment firm, Founders Fund, has profited significantly from Bitcoin investments and recently doubled down with a $100 million purchase during a price dip.&nbsp;</p>
<h2 class="wp-block-heading" id="h-institutional-investments-and-market-sentiment"><strong>Institutional Investments and Market Sentiment</strong></h2>
<p>They further connect the dots between institutional investment strategies and broader market trends. They highlighted Bitcoin’s recent market volatility, including a significant price drop and a subsequent recovery. This volatility is framed as a tool used by Wall Street to manipulate the market. He further discusses how Wall Street’s control over ETFs and regulatory actions might be used to push Bitcoin’s price lower. For instance, the delay of the <a href="https://markets.coinpedia.org/ethereum-etf/" target="_blank" rel="noopener noreferrer nofollow">spot Ethereum ETF</a> is seen as part of a broader strategy to influence the cryptocurrency market.</p>
<h3 class="wp-block-heading" id="h-the-40k-bitcoin-theory"><strong>The “$40K Bitcoin” Theory</strong></h3>
<p>Interestingly, they expect <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin’s price</a> to experience short-term fluctuations, potentially a drop of around $40,000. While the market is expecting a rise, Institutions are allegedly waiting for Bitcoin to hit $40,000 to buy the Bitcoin. Despite current market manipulations, analyst believes that the long-term trend for Bitcoin remains positive. The argument is that Wall Street’s efforts are a temporary measure to correct the market before a significant rise in Bitcoin’s value</p>
<p>Read Also: <a href="https://coinpedia.org/news/xrp-price-can-one-explosive-move-push-the-price-beyond-6-and-10-levels/" target="_blank" rel="noopener noreferrer nofollow">XRP Price: Can One Explosive Move Push The Price Beyond $6 and $10 levels?</a></p>

Here’s Why the Bitcoin Price May Crash Toward $40K

Table of Contents

CoinPedia News

دیگر آرٹیکلز 1 جولائی، 2024 پر پبلش کیے گئے ہیں

Will Qubetics Whitelist be the Game-Changer Amid Avalanche and Internet Computer’s Bearish Strugg...

Dogecoin Sees 4.4% Price Surge

Bitcoin Surges Amid Market Volatility

Crypto News Today: Bitcoin Above $63K Amid Positive Momentum

WadzPay Pumps 25% Amid Tier-1 Listing Launch in July, How Much Will WTK Pump Once Listed?

Vitalik Buterin Proposes Ethereum SSF for Faster Transaction

Join our free newsletter for daily crypto updates!