• About
  • Landing Page
  • Buy JNews
Newsletter
Impact Crypto News
Advertisement
  • Home
  • DeFi News
  • EVM News
    • Avalanche Network
    • Ethereum
    • Fantom Opera Chain
    • Harmony Chain
    • Huobi Eco Chain
    • Polkadot Chain
    • Polygon Chain
  • NFT News
  • Altcoin News
  • Crypto News
    • Crypto Regulation News
    • Bitcoin
    • Blockchain
    • Crypto Exchanges
    • Crypto Mining
    • Metaverse
    • Scam News
    • Web 3.0
No Result
View All Result
  • Home
  • DeFi News
  • EVM News
    • Avalanche Network
    • Ethereum
    • Fantom Opera Chain
    • Harmony Chain
    • Huobi Eco Chain
    • Polkadot Chain
    • Polygon Chain
  • NFT News
  • Altcoin News
  • Crypto News
    • Crypto Regulation News
    • Bitcoin
    • Blockchain
    • Crypto Exchanges
    • Crypto Mining
    • Metaverse
    • Scam News
    • Web 3.0
No Result
View All Result
Impact Crypto News
No Result
View All Result
Home Crypto News Bitcoin

Bitcoin Seen Dropping To $10K, This Asset Management Predicts

IMPACTCRYPTO by IMPACTCRYPTO
November 28, 2022
in Bitcoin
57 1
0
Bitcoin Seen Dropping To K, This Asset Management Predicts
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter


Bitcoin returned to the bottom of its current range and might see further downside pressure in the coming days. The cryptocurrency is still recovering from the collapse of FTX, the former second major crypto exchange in the world, and the contagion unleashed in the sector. 

As of this writing, Bitcoin has recorded a spike in selling pressure. The cryptocurrency is trading at $16,200 with a 2% loss in the last 24 hours. Other assets in the crypto top 10 record similar price action, but the majority preserves profits from last week. 

Bitcoin price BTC BTCUSDT
BTC’s price moving sideways on the daily chart. Source: BTCUSDT Tradingview

Bitcoin Can Crash To Its 2020 Levels Amid FTX’s Collapse

A report from Bloomberg claims some institutional investors are bearish on Bitcoin. Mark Mobius, experienced fund manager and founder of Mobius Capital, believes Bitcoin might drop to $10,000 in the medium term. 

The fund manager claims the crypto industry might suffer from more contagion. Since the crypto exchange filed for bankruptcy, several companies halted operations. The Digital Currency Group (DCG) company, Genesis, is a prominent case. 

The company stopped accepting withdrawal requests from its customers and is rushing to raise capital to prevent bankruptcy. The situation has led many to speculate about the solvency of DCG. The rumors are contributing to the uncertainty in the crypto market. 

In this context, the price of Bitcoin and other assets is trending sideways. BTC will likely follow this trend for the coming weeks. Mobius classified the current environment as “too dangerous” to invest any of his clients’ money. 

Despite the current market conditions and FTX’s collapse, the fund manager believes crypto will have a permanent role in global finances, hinting at a long-term bullish bias: 

But crypto is here to stay as there are several investors who still have faith in it. It’s amazing how Bitcoin prices have held up.

Bitcoin Options Players Expect Doom For December

Further data provided by Bloomberg, based on the options platform Deribit, indicates a significant open interest leaning toward the put side (sell contracts) for December. By the end of 2022, many investors are expecting Bitcoin to gravitate around $10,000. 

However, this data can also be interpreted as many investors hedging their spot-long positions. Investors buy Bitcoin on exchanges, and to protect against potential downside pressure, they purchase put contracts. 

NewsBTC reported that many investors are aiming for Bitcoin at $30,000 by the end of the year. In that sense, the price of Bitcoin might trend higher or lower without impacting these investors’ portfolios. As seen below, the max pain price is $20,000; this price could be the December target, most likely. 

Bitcoin BTC BTCUSDT Chart 3
BTC Options’ Open Interest for the December 30th expiry. Source: Deribit



Source link

Related articles

Ethereum Leads Futures Rebound As Top Altcoin OI Nears B

Ethereum Leads Futures Rebound As Top Altcoin OI Nears $45B

July 30, 2025
Market Set to Surge as PayPal Introduces ‘Pay with Crypto’ Feature for 100+ Tokens

Market Set to Surge as PayPal Introduces ‘Pay with Crypto’ Feature for 100+ Tokens

July 29, 2025
Tags: 10kAssetBitcoinbitcoin newscrypto analysiscrypto newsDroppingEthoz EdgeLatest bitcoin newslatest crypto newsManagementPredicts
Share76Tweet47

Related Posts

Ethereum Leads Futures Rebound As Top Altcoin OI Nears B

Ethereum Leads Futures Rebound As Top Altcoin OI Nears $45B

by IMPACTCRYPTO
July 30, 2025
0

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure The combined Open Interest of the top...

Market Set to Surge as PayPal Introduces ‘Pay with Crypto’ Feature for 100+ Tokens

Market Set to Surge as PayPal Introduces ‘Pay with Crypto’ Feature for 100+ Tokens

by IMPACTCRYPTO
July 29, 2025
0

PayPal has officially rolled out its “Pay with Crypto” feature, allowing U.S.-based merchants to accept payments in over 100 cryptocurrencies. From...

Strategy Purchases 21,021 Bitcoin After .52 Billion IPO

Strategy Purchases 21,021 Bitcoin After $2.52 Billion IPO

by IMPACTCRYPTO
July 29, 2025
0

Strategy, the leading bitcoin corporate treasury company, announced it has purchased 21,021 BTC at an average price of $117,256, using...

Redstone Debuts Oracle for Instant DeFi Liquidations and MEV Capture   

Redstone Debuts Oracle for Instant DeFi Liquidations and MEV Capture   

by IMPACTCRYPTO
July 29, 2025
0

Redstone has launched Atom, an oracle designed to enable real-time liquidations and capture miner-extractable value (MEV) for decentralized finance (DeFi)...

XRP to Replace the US Dollar? Wild Prediction Could Hype Bitcoin Hyper

XRP to Replace the US Dollar? Wild Prediction Could Hype Bitcoin Hyper

by IMPACTCRYPTO
July 29, 2025
0

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure Oliver Michel, CEO of Tokentus Investment—one of...

Load More

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Please enter CoinGecko Free Api Key to get this plugin works.
No Result
View All Result
  • Home
  • DeFi News
  • EVM News
    • Avalanche Network
    • Ethereum
    • Fantom Opera Chain
    • Harmony Chain
    • Huobi Eco Chain
    • Polkadot Chain
    • Polygon Chain
  • NFT News
  • Altcoin News
  • Crypto News
    • Crypto Regulation News
    • Bitcoin
    • Blockchain
    • Crypto Exchanges
    • Crypto Mining
    • Metaverse
    • Scam News
    • Web 3.0

© 2018 JNews by Jegtheme.