Overview

Click to expand overview
Last week, bitcoin suffered its worst week in two years, falling from $20,905 to $15,784 (£18,449 to £13,461) in five days after the collapse of cryptocurrency exchange FTX. But it was still enough to push bitcoin up more than 8 per cent as people raced around seeking confirmation. Still, it’s worth reflecting on the reasons why the SEC has JP Morgan, has claimed that the Binance FTX crisis could bulldoze Bitcoin down to $13,000 as the cryptocurrency market continues to crumble. JPMorgan’s team, led by Nikolaos Panigirtzoglou, predicted that the price of bitcoin could drop to $13,000 due to the turmoil following the FTX collapse.The cost to A recent report notes the possibility of Bitcoin plummeting to a low of $13,000. Strategists from JPMorgan Chase &. Bitcoin has rebounded following the collapse of crypto exchange FTX last November, rising over 42%. In the weeks leading up to and after the fall, Bitcoin dipped below Bloomberg LíneaInvestors were liquidating cryptocurrencies on Friday amid another chapter of uncertainty for the assets, following the filing for bankruptcy by beleaguered crypto exchange

Could the FTX Collapse Push Bitcoin Down to $13K? Analyzing the Market Turmoil

The cryptocurrency market is reeling from the aftershocks of the FTX collapse. The question on everyone's mind: could this crisis send Bitcoin tumbling down to $13,000? Last week, bitcoin suffered its worst week in two years, falling from $20,905 to $15,784 (£18,449 to £13,461) in five days after the collapse of cryptocurrency exchange FTX. Investors were liquidating cryptocurrencies on Friday amid another chapter of uncertainty for the assets, following the filing for bankruptcy by beleaguered crypto exchange.

JPMorgan Chase analysts are sounding the alarm. Strategists from JPMorgan Chase & have claimed that the Binance FTX crisis could bulldoze Bitcoin down to $13,000 as the cryptocurrency market continues to crumble. JPMorgan’s team, led by Nikolaos Panigirtzoglou, predicted that the price of bitcoin could drop to $13,000 due to the turmoil following the FTX collapse.

Analyzing the $13,000 Prediction:

A recent report notes the possibility of Bitcoin plummeting to a low of $13,000. But what factors contribute to this potential downward spiral? Fear, uncertainty, and doubt (FUD) are rampant in the wake of the FTX disaster. Investor confidence has been shaken, leading to increased selling pressure. The cost to [acquire Bitcoin]... [is also a factor].

Bitcoin's Recent Rebound: A Glimmer of Hope?

Despite the dire predictions, Bitcoin has shown some resilience. But it was still enough to push bitcoin up more than 8 per cent as people raced around seeking confirmation. Bitcoin has rebounded following the collapse of crypto exchange FTX last November, rising over 42%. In the weeks leading up to and after the fall, Bitcoin dipped below Bloomberg Línea. This rebound offers a counter-narrative, suggesting that Bitcoin may be more resilient than initially feared.

The Role of Regulation: The SEC's Perspective

Still, it’s worth reflecting on the reasons why the SEC has JP Morgan, [taking a closer look at the crypto market]. Increased regulatory scrutiny and potential intervention could further impact Bitcoin's price trajectory, adding another layer of complexity to the situation.

Conclusion: Will Bitcoin Hit $13K?

The possibility of Bitcoin dropping to $13,000 remains a significant concern. The FTX collapse has undeniably shaken the market and amplified existing vulnerabilities. While Bitcoin's recent rebound provides some hope, the overall sentiment remains cautious. Monitoring market developments, regulatory news, and macroeconomic factors will be crucial in determining Bitcoin's future price trajectory.

Top Sources

Related Articles