The crypto market has experienced one of its most difficult times in recent weeks. Not due to the current price of Bitcoin, which is still much higher than any number reached in previous years. But because of the magnitude of the last drop in the market, from which it has not yet begun to recover. Therefore, the Twitter account known as The Crypto Dog, questions whether Bitcoin could fall to $ 28,000 in the Tweet of the day:
One Bitcoin at $ 28,000
The price of Bitcoin has always generated great debates within the crypto world. And, even before the last big bullish rally in the price of Bitcoin, it was difficult to know where the price of the cryptocurrency was heading. There are always two sides, those who consider that the price of Bitcoin will only increase, and those who wait for the definitive collapse of the cryptoactive.
This debate has not disappeared, but has been reinforced during the last days, when the collapse in the price of Bitcoin has led crypto skeptics and defenders of the crypto world, to exchange arguments in an attempt to know if BTC will be able to continue falling. Being the fall below $ 30,000, one of the turning points, as well as one of the biggest fears for crypto users.
However, for more experienced users, this discussion does not make sense. Especially considering that just a year ago, Bitcoin wasn’t even trading in the order of $ 20,000. So even with its recent crash, BTC is in its prime. Which is why the analyst known as The Crypto Dog, comments that he does not believe that the price of Bitcoin will reach $ 28,000:
«$ 28,000 today feels like $ 2,800 in 2019, in other words I don’t think it will happen».
Thus, The Crypto Dog tries to put the situation in which the crypto market finds itself in perspective. Remembering that, until now, Bitcoin was not a world-class financial asset, nor did it have the financial infrastructure that it possesses at the moment. Therefore, a definitive collapse in its price is unlikely.