Bitcoin Price Prediction: Plunge to $40k Could Happen in Next 6 Months
The bitcoin winter might stretch on for months to come.
The OG cryptocurrency is already mired in a bear market, but the crypto’s price could decline to $40,000 as its rout continues, according to John Blank, the chief strategist at Zacks Investment Research. That implies another 49% downside for bitcoin, Blank said, highlighting several reasons behind his in an appearance on CNBC on Monday.
“So at $76,000 from $125,000, which was the peak, we can get to 40,000,” Blank said, later adding that he reached his $40,000 estimate based on the trajectory of bitcoin’s recent highs and lows.
It’s been a rough few months for bitcoin, which officially tumbled into a bear market in November as traders shifted to…
