Crypto Winter Is Coming, Warns Experts

[Leviathan.007]

Analysts at JP Morgan and DailyFX claim that we are in a cryptocurrency winter. However, other analysts, including John Bollinger, disagreed. The creator of the technical indicator of the Bollinger Bands believes that Bitcoin has already recorded a price floor of $ 30,000.
Bitcoin hit a record high of $ 64,804.72 in April, but later, the flagship cryptocurrency has dropped by almost 50% since then, trading at $ 33,039.01 at the time of writing. The price of Bitcoin has risen 1.5% in the last 24 hours after touching the $ 30,000 resistance level. Although the cryptocurrency appears to be recovering, some experts believe the situation could get worse.
In addition to the downtrend, the Bitcoin death intersection pattern was finally formed on June 19. In addition, conflicting news with Bitcoin continues in China, which negatively affects the bitcoin hash rate. On the other hand, the interest of legal investors decreased. These are all factors that lead to a downturn in the market. Likewise, these factors can lead our favorite cryptocurrencies to a deep hibernation.

Source: https://www.investing.com/news/cryptocurrency-news/crypto-winter-is-coming-warns-experts-2543269

[Argoo]

The situation in the cryptocurrency market is really difficult now. It seems that everything may depend on the preponderance of positive or negative news information in the near future. I don’t think we’re in crypto winter yet. First, too little time has passed to draw such a conclusion. Secondly, we see that bitcoin periodically rises well in price, resisting bears. Of course, it is difficult for the market to struggle now in these summer months, when business activity is traditionally declining in almost all markets. However, all is not lost. The cryptocurrency market is still able to rise and there is hope in this regard for the autumn period.

[tranthidung]

Analysts at JP Morgan and DailyFX claim that we are in a cryptocurrency winter. However, other analysts, including John Bollinger, disagreed. The creator of the technical indicator of the Bollinger Bands believes that Bitcoin has already recorded a price floor of $ 30,000.

Why do we have to listen to opinion from JP Morgan? JP Morgan and Jamie Dimon have bad history with their statement about Bitcoin and cryptocurrency.

The floor of Bitcoin for the mini bear market in middle of a big bull market is unknown. It can be around $30,000 but worse it can be around $20,000 but I agree with Bollinger that Bitcoin is not in a winter season. After a found bottom, Bitcoin will have a few months of side way and will take off again.

I believe that the real bottom can be lower than $30,000 because whales can try to dump more and bring a cheap price back, for their re-accumulation. Additionally, from VPVR, support below $24,000 is very weak that can be compromised by whales to cause a terrible crash.

Has the Spring point in the Wyckoff pattern been touched yet? 

[Yogee]

The agenda is strong on this one. This is what you do when you understand BTC could still have another wave in this bull cycle and you want to buy more at a lower price. Be careful with these "experts" and their opinions. You suffer the losses if you follow their wrong call but they are not liable for their mistakes.

[Nunoluck]

It seems that I have to hold my fund for little more. Thank you for sharing, actually I also planning to buy btc at 20k price level, I am not an expert but I also did calculations about the lowest price of bitcoin in this bearish market. That's make me more sure about my plans. Honestly, although the market condition is bad but I am not worry about it.

[Lucius]

Why do we have to listen to opinion from JP Morgan?

All in all, the article does not bring anything new - it is a classic news recycling with the intention to emphasize as long as possible all this FUD that was launched in the past month, of course with a special emphasis on China. And why JPM in the whole story? Well, so that everything together gets as important as possible, because they are still the largest US bank and one of the top 10 in the world - some consider them almost divine representatives of finance in today's world.

Besides, we read about this because the OP thinks it's something important - and on the other hand, this is a classic shitposting without any effort.

[kaggie]

If JP Morgan couldn't predict that bitcoin was going to go to 60k a few years ago, why should we listen to them now?

There may be crypto winters, but bitcoin will be much more valuable a decade from now than it is now. That, I can guarantee.

[virtualdn]

You're expecting the bankers of JP Morgan to talk positive about Bitcoin? It's all FUD, these guys are so desperate they don't know what to say anymore to stop BTC and the crypto market. I'm not that stupid, this is news for the noobs.

It seems that I have to hold my fund for little more. Thank you for sharing, actually I also planning to buy btc at 20k price level, I am not an expert but I also did calculations about the lowest price of bitcoin in this bearish market. That's make me more sure about my plans. Honestly, although the market condition is bad but I am not worry about it.

If you ever dream for BTC to reach $20K again keep dreaming.

[masterrex]

IMHO, I believe that in this industry everything is possible so anything can happen anytime soon. But before that, we must also consider other factors that might influence the trend like the market comparison of today and before, because if we examine carefully it shows that the crypto market today is a lot bigger compared to the last crypto winter in 2018-2019 respectively so if the crypto winter will happen today I believe it will not the same as 2018-2019 crypto winter and probably most cryptocurrency prices will not dip much, but that was only my personal opinion and I'm not an expert regarding this topic.

[Ararbermas]

For sure that's another false information to intimidate holder again because winter is coming and now they're saying market has a potential to flactuate again. Lol  maybe you don't have any idea who is that JP Morgan? Because fyi he's the man who use to make prediction even he don't have an interest in such things .  Yes that's what he said.  ^{“I don't care about bitcoin. I have no interest in it.*} . So do you think he's being serious on that prediction?.

[MFahad]

Analysts at JP Morgan and DailyFX claim that we are in a cryptocurrency winter.

We don't need to see the analysis by JP Morgan or any other famous personality. Their purpose is to manipulate the market and i hate all those who speak something for their own benefit.

[buwaytress]

Ah no, a crypto winter's a lot deeper, worrying and scarier than this, JPM. We're talking 25% dips in the blink of an eye, ICOs (now IDOs) raising zero, exchanges crashing, ETH shedding over 90% of ATH value. Liquidations the order of business and signal groups shutting down subscriptions.

We're not there yet.

P.S. Is it a bit crazy I never knew this Bollinger guy is a thing and even still actively analysing?

[Fesatmas]

Bad news has become a crazy consumption today, in the market almost affected, those who initially did not know what the market situation was when the higher-ups were taking care of the files and securing their assets. Bitcoin weakened when China clearly issued its policies. then followed by analysts who have collected their references in order to reach the bitcoin price by the end of this year. I still believe that this possibility will continue until the impact hits the end of December.
everyone has started picking up the fiat pile that will be printed soon to prepare for the release of covid 19. and that will certainly have a big impact on the crypto market.

[BitcoinLegends]

Betting on Crypto winter is like playing a unknowable game.

"Bobby Lee, co-founder and former CEO of crypto exchange BTCC, told CNBC Asia in a Monday interview that bitcoin BTCUSD, +7.10% tends to operate in four-year bull cycles, with big jumps in 2013, 2017 and this year’s most recent surge representing the latest uptrend for the world’s most prominent crypto."

Key word here is "Tends"

I really think no one can spot a crypto winter. please educate me if wrong. Almost positive people have called for crypto winter and next day market mooned.

[BrewMaster]

these are the same guys who were saying that bitcoin will never go above $1000 not so long ago and right before price shoot up to the moon that year.

in fact whenever we see the most corrupt banksters are acting scared and are talking about some sort of bitcoin doomsday that is a good buying signal telling us that they know something that has made them this scared.

[tranthidung]

Winter is not coming and it won't in this year. That tweet is funny but makes sense.

I wait for a real blast off to the Moon in this year.

Even if the winter will actually come with us, it will last shorter than previous winters. More institutes, better mainstream adoption, more heat on the market and the next winter will be shorter.

You can verify it by looking at how faster the recovery of Bitcoin from bottom in March 2020, that is the beginning of its big bull run. If history repeats exactly, such big bull run should be triggered many months later than March 2020.

[seoincorporation]

This winter will not be like the past ones... I know bitcoin used to bump at the end of the year but this time will be hard to see it because we don't have any big influencers or any big investors behind bitcoin. It's clear that musk is done with bitcoin and not interested anymore, so, we need a new influencer whale interested in the coin or other way the price will not get over $35k.

Will all the current problems with china-bitcoin it doesn't look like we will have a happy end of the year. So, i hope the best for BTC but the current scenario isn't looking fine at all.

[pawanjain]

The speculation is worse this time because the possibilities of bitcoin going up and down are equal I believe.
Even Cointelegraph seems to be confused whether bitcoin will go up or down because it keeps posting about the speculations of bitcoin price.
In some articles it says bitcoin will pump up and in the other it says the death cross will make bitcoin price go down.
So we can't really say what's gonna happen in the near future. Only time will tell whether bitcoin will go up or down.

[Review Master]

TBH, crypto winter isn't knocking at the the door yet as there is still another possibility of rebounding before entering into that. So lets just wait for that bounce back to profit out few amounts from our portfolio, than wait for the major dip to accumulate more. 

Has the Spring point in the Wyckoff pattern been touched yet? 

I was expecting to be in the phase D of Wyckoff pattern when bitcoin was around $40k before the recent dumps. But looks like, i was wrong on that as bitcoin was on phase B and now, we're on phase C. Lets just wait for spring point in wyckoff pattern. 

[sheenshane]

This isn't new, there are more like him trying to spread FUD and seeking public attention.  It seems they are also want to become an influencer and trying to call out themself as the expert on predicting the Bitcoin price which is we know that it has an unknown movement or let's say, it's unpredictable.

There's no winter or summer, Bitcoin goes up when the price goes up, just because it's a matter of demand and supply, nothing else matter.  It might the continues FUD that happens Bitcoin hardly enough to recover the price due to different FUD has recently happened like China banning that really hurts the market.

I don't think if this JP is worth it to listen to his opinion, which is if we analyze very well, they don't fully understand yet how Bitcoin will work the price.