On Tuesday, the bitcoin price reached a 4-week low, falling below the important psychological level of 30,000. On Monday, the price of the main cryptocurrency also declined against the backdrop of falling global stock indices and other risky assets caused by the deterioration of the epidemiological situation in the world due to the rapid spread of the delta coronavirus strain, as well as fears of a relative acceleration of inflation.
The U.S. Securities and Exchange Commission has postponed its decision on the application to launch a bitcoin ETF from Wisdom Tree, awaiting public comments on the product.
Doubleline Capital fund manager Jeffrey Gundlach believes that the price of bitcoin will fall below the level of $ 23,000
Noting the formation of the “head and shoulders” pattern. Gundlach also predicts that there will be a significant devaluation of the dollar in the medium term, given the size of the US government debt.
On Wednesday, the “The Word” event will take place, where such influential personalities in the crypto community as Elon Musk, Jack Dorsey and Katie Wood will speak.
According to technical analysis, fixing below the level of 29000 will open the way to 24000. In case of a return above 31100, an increase to 32400 is likely.