Experts emphasized that the Bitcoin price of $58,000 is the liquidation level for MicroStrategy. If the rate of the first cryptocurrency falls below, a crisis will arise that will surpass the collapse of the FTX crypto exchange in scale. It will affect not only the digital asset sector, but also traditional financial markets.
“The price of Bitcoin must maintain its position above the key support level of $58,000 for four years in order not to cause catastrophic consequences in the market,” the message states.
Analysts believe that the price of Bitcoin over the next few years is unlikely to overcome the $500,000 mark. The market remains extremely volatile, any negative news could cause a collapse in quotations, and conditions for further mass adoption of cryptocurrencies have not yet been formed.
The future of the digital asset market remains uncertain, and many optimistic forecasts about Bitcoin will most likely not come true, Alliance DAO experts concluded.
Earlier, the founder of MN Consultancy, Michael van de Poppe, said that next month the price of the first cryptocurrency could fall by 25-30%, and then a six-month period of sideways movement of the asset will begin.
Source: Bits
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