Bitcoin Price (BTC) Should Continue Slow Bleed Lower, Says Quinn Thompson
Bitcoin’s correction may just be getting started. In fact, the crypto sector as a whole could be facing a severe downtrend reminiscent of 2022.
“I could see us going back to a five handle by the end of the year,” Quinn Thompson, founder of crypto hedge fund Lekker Capital, told CoinDesk in an interview. A “five handle,” i.e. a price between $50,000 and $59,999, would be down substantially from the already shaky current $83,000 level and roughly a 50% decline from bitcoin’s peak just above $109,000 just more than two months ago.
“I don’t think it happens quickly, which is why it would be very painful and shocking to people because nothing about the current market conditions is very volatile, with big liquidations and crashes,”…
