Bitcoin On Verge Of $10K: US Recession Pops In, Analysts Predict April Low

Bitcoin Price Drops Below $23K

• Bitcoin had a massive surge in January, but is currently in a bear market which has brought down most of the large cap cryptocurrencies.
• Yesterday the currency dropped below $23K and is currently selling at $22,846 with a drop of 2.33% over the last 24hrs.
• Analysts predict that if Bitcoin moves towards recession, it might hit a low of $10,000.

Analysts Predicts US Recession

Mike McGlone, senior macro strategist at Bloomberg, predicts that cryptocurrencies might have been hit with their first recession. He believes that this phenomenon might see assets hitting their lows with increased volatility. McGlone compares Bitcoin to Nasdaq 100 index and states that if BTC moves towards recession, Bitcoin might hit a low of $10,000.

Bitcoin Price At $10K In April?

Michael van de Poppe claims that crypto will face a disappointing February and if there is a recession, Bitcoin will drop towards a range of $20,000 and $21,000 area. On the other hand Dark Defender warns his Twitter followers that when Bitcoin was trading around $16K in Dec 2022 he had predicted BTC to hit between 19k and 24K in Feb and then 10k on April 23rd.

Conclusion

The article discusses the current bear market for bitcoin which has dropped below 23k as well as analysts predictions for the cryptocurrency moving forward including potential recessions and reaching prices around 10k by April 2023 according to some experts.

Takeaway

Bitcoin prices are volatile so it’s important to stay informed about any news or predictions from analysts before investing or trading in cryptocurrency markets.