Bitcoin Must Hold This Level Or Risk Falling To $10,000

Bitcoin has seen a remarkable recovery trend that has caused its price to surge past $22,000 once more. This is a welcome development for the digital asset, which has been suffering from many dips, but it is not all rosy for the cryptocurrency. Since the market continues to remain in a bearish trend, there are levels that bitcoin must maintain above to keep such high prices. Otherwise, it risks falling more than 85% from its all-time high. Bitcoin Must Hold Above $17,000 Many prominent figures in the finance industry have shared their thoughts about where they see the price of bitcoin going. One of those is Clem Chambers, the CEO of ADVFN. Chambers, who is also widely known as a financial analyst has said that for the digital asset to continue to rise, it must make sure not to fall below $17,000. Related Reading: Here’s Where Investors Expect Cardano (ADA) Price To Be At The End Of September In the interview that was carried out by Daniela Cambone for Stanberry Research, the financial analyst explained that bitcoin is likely to reach $40,000 if it maintains strong momentum. However, there is still a high chance that the price will reach the dreaded $10,000 if it fails to hold the $17,000-$18,000 level. Interestingly, even though the price of bitcoin is currently up, Chambers believes that the bearish scenario is more likely in this case. This means that the analyst expects the price to fall below $17,000 and reach as low as $1...