Bitcoin’s price is going through its all-time low price and the graphs are continuously plunging. Although the leading currency has been playing above the $3,200 zone and is not showing any vigorous changes, the signs for the future crypto activity don’t seem to be positive. Following the momentum trend, the market still seems to be in a plunging behavior.
The graphs from coinmarketcap show the momentum of BTC in detail,
The analysts and crypto enthusiasts are waiting for Christmas in the crypto world and hence the predictions are flooding in every minute. Thomas Power’s predicted the previous big market plunge when the market was stable at $6,400. According to him, the market was in for a crash when everyone else thought that the only way was up from there. Thomas stated previously talking to Blockpublisher that the crypto market was going to face a 50% crash across the board, which to everyone’s surprise, came true. Following the market plunge, he recently came back with his prediction (rather a prophecy) for BTC. According to him, BTC hasn’t yet finished its bear run, the currency has yet to have another plunging event after which the currencies would finally see the light of day.
F2Pool, the 5th largest BTC mining pool has recently put out a graphic in their telegram group where they explained that there are some machines which can still mine BTC profitably on any price above $2,160 having an electricity cost of $0.06/kwh. This brings the break-even level of BTC down to $2,160. Inferring from this, Thomas Power had a bold prediction. Talking to BlockPublisher, he said,
BTC is heading to the breakeven value of $2,160.
Further looking into the situation, he predicted that miners would merge into a few winners.
The next support level of BTC stands at $3,100, after which the support would turn into the resistance and the next support would lie near the $2,850 zone. The bears have been rather active, another Harvard economist also predicted that the future of BTC is more likely to be at $100 rather than $100,000. The bulls of the market, on the other hand, have predicted that the still stick to their bullish predictions saying that there would most probably be a slingshot effect and now is the best time to buy BTC and is the best time to hold because from now on the only way is up.
