Michael van de Popp believes that the price of bitcoin will fall to $10,000

Cryptocurrency expert Michael van de Popp shared his thoughts on the future movement of bitcoin on his Twitter account. In his opinion, earlier people dreamed that the flagship cryptocurrency would fall to $20,000 in order to buy bitcoin at a good discount. Investors are now selling their funds to buy in at the $10,000 mark.

Van de Popp thinks a drop to $10,000 is inevitable. This is evidenced by the state of the market in terms of recent events, as well as the overall global downtrend. Michael also told his followers that he is very happy that Binance is going to invest $1,000,000,000 to restore the cryptocurrency space. In his opinion, if the crisis is successfully overcome, the worst times will soon have to end.

With the words of Michael van de Popp, many subscribers are in solidarity and also believe that in the near future BTC will continue its decline, after which it will finally start its way up. However, according to van de Popp himself and his followers, the recovery of the cryptocurrency industry may take a long time.

To date, the index of fear and greed of cryptocurrency owners was 20 points out of 100 possible, which indicates a great fear of traders. More extreme figures have been recorded this year, for example, 9 units and below, but most investors are still in a state of fear and are more likely to sell bitcoin than to buy the main cryptocurrency. It is noteworthy that a week ago this index was 23 units, which indicates an increase in the index of fear among crypto investors.

At the time of writing, the cost of one Bitcoin is $16,535. A week ago, the quotes were equal to $16,600+, and on November 22, the cost of the flagship cryptocurrency sank to $15,600+, together with which it reached a two-year low. The total capitalization of BTC exceeds the threshold of $317,000,000,000, and the volume of trades among traders of the main cryptocurrency is higher than $22,100,000,000.