The cryptocurrency market has been struggling with a red line for several weeks, meanwhile its largest asset – Bitcoin (BTC) – is stuck in a sideways trading pattern as it continues to fail to stay above the psychological $17,000 level.
With this in mind, Bitcoin trading in a potential $10,000-$14,000 range wouldn’t be the maximum pain for most cryptocurrency traders, but the “real maximum pain” would be the price moving in the $500 range for months, the crypto expert said. stomach ia noticed tweet on the 12th of December.
according to mag The graph includes the prediction of the possible Bitcoin price movement in 2023, the main asset may be stuck around $17,000 for a long time, which may cause most investors to lose a large part of their capital.
As the analyst explained:
“$10k-$14k is not going to be the maximum amount of pain for most because most of you are prepared for that! The real maximum pain is the price moving in the $500 range for months. Most people will spend a large part of their capital by exaggerating in flat range trading by ± 2%.”
Meanwhile, Robert Kiyosaki, author of “Rich Dad Poor Dad,” has suggested that bitcoin holders will “get richer” in the future even with the prospect of the Federal Reserve printing trillions of dollars.
Meanwhile, bitcoin investors are holding their breath as both the Consumer Price Index (CPI) and Federal Open Market Committee (FOMC) meeting are scheduled for this week, the outcome of which could have a significant impact on the price of the first digital asset.
Bitcoin price analysis
At press time, Bitcoin is trading at $16,970, down 1.18% on the day and 2.05% over the previous seven days, though the current price is still 0.72% higher than the previous 30 days.
With a market cap of $326.38 billion, Bitcoin remains the largest cryptocurrency according to this indicator, followed by Ethereum (ETH) in second place and almost half of the market cap.
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BTC Price Post “Real max pain” Point Set – Crypto Expert’s View appeared first on Coinphony.