What Are The Odds Bitcoin Will Drop Below $25k?

What Are The Odds Bitcoin Will Drop Below $25k?
May 28
15:38 2021

The markets have lost over 25% in the past two weeks. While the leading tokens demonstrated a mild upward trend earlier in the week, it has once again taken a hit. With the volatility at its peak, it is the third consecutive week of the bear run. 

Earlier when the prices were up and Bitcoin was rallying around $60,000 mark and the second leading coin Ethereum touched its all-time high crossing $4000 mark, experts were hopeful of a sustained bull run. However, there were comparisons with the first major crypto boom and its aftermath. Once again the speculations are high and the drop in prices are being considered as an indicator that it is a repeat of 2017. 

Towards the end of that year, after setting new records the top tokens plummeted and there was a sustained bear run. Now, once again as the prices are dropping it leads us to question, can Bitcoin prices drop below $25k? At the moment though it may not seem very likely but the possibilities cannot be ruled out. Historical price charts confirm that the market undergoes steep corrections everytime there is a steep rise in prices where the top tokens start smashing their own previous records. 

A careful analysis of the historical data shows that every year Bitcoin makes a significant surge and so does the cumulative market cap of the top tokens. As such, it is also safe to say that those who have been holding the tokens despite their entry points have managed to take profits; the margins depend on when they entered the market.

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Utsav K.

Utsav K.

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