Florian Grummes of Midas Touch Consulting claims Bitcoin may hit $6k in the worst scenario.
In the present time, the majority of the crypto assets are down by around 70-80% and this situation is hinting that we are in the bear phase of the crypto market but still few people believe that the market may face more correction because of the current macroeconomic situation in the global economy.
On 11 October, Florian Grummes, the managing director of investment advisory firm Midas Touch Consulting, appeared in an interview with Kitco news.
Florian said that Bitcoin may fall below $10,000 and it may touch $6,000 in the worst scenario because of the high volatility situation.
“It’s my worst case right now (Bitcoin at $6,000). I wouldn’t rule it out. I think $10,000 is probably what’s going to happen, and then we’re going to see a nice bounce and maybe another test of the $10,000 to $15,000 range, like a double low at some point,” Florian said.
Opposite of these negative assumptions, professional financial advisor believes that there are chances that Bitcoin may again regain price to its all-time high, which is $69k.
According to him, if the market will move toward recovery & if at the same time Bitcoin halving will take place then it will help Bitcoin to reach a better level in 2024.
At the time of writing this article, the price of Bitcoin is $19,082 which is only 0.15% down over the last 24 hours’ trade price.
The last all-time high of Bitcoin was $69k and it is down by approximately 71.3% over its all-time high and probably Bitcoin will require to have a very good situation from every aspect to again reach to its all-time high but this time people are looking for see Bitcoin to $100k as a new all-time high.