Bitcoin was predicted to fall to 13 thousand dollars

The founder of Absolute Strategy Research, Ian Harnett, predicted bitcoin’s fall to $ 13 thousand plotcourse of bitcoin:

The founder and chief investment officer of Absolute Strategy Research, Ian Harnett, in an interview with CNBC, predicted a further drop in the bitcoin exchange rate to the level of 13 thousand dollars per unit.

According to Harnett, investors have recently realized that bitcoin cannot be perceived as a full-fledged currency, commodity or means of saving. In reality, it is an exclusively speculative asset.

Harnett also made the argument that, on a historical scale, bitcoin is usually cheaper by 80 percent from its peak values. Relative to the historical maximum of $69,000 reached at the end of 2021, an 80 percent price reduction will mean reaching $13,000.

“In a world where there is enough liquidity in the financial markets, bitcoin is doing well. When this liquidity is taken away by Central Banks [as part of tightening monetary policy], it comes under strong pressure,” Harnett said.

In recent weeks, there has been a significant decline in the cryptocurrency market, due to the transition of investors to more reliable traditional assets against the background of the crisis, as well as the scandal surrounding the TerraUSD stablecoin, which lost its peg to the dollar.

At the time of publication, bitcoin was trading at $ 20.4 thousand. The decrease over the last day was 3.17 percent.