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James Malarni: Interest in buying bitcoins below $ 30,000 prevents prices from falling

A popular analyst on YouTube, referring to the predictions about the decline in bitcoin prices and the price floor, said that given that many people and investors in the previous bear markets have lost the opportunity to buy, it seems that the opportunity Buying bitcoin below $ 30,000 is taken seriously, and this factor can prevent the price from falling.

James Malarni, an analyst who shares his analysis of the market conditions on InvestAnswers YouTube channel, told his followers that there is a limit to the amount of bitcoin crashes, because people who They have lost the past and are ready to buy when the price falls below $ 30,000.

He said in this regard:

    We usually get to the bottom of the price when people anticipate a big drop with a lot of losses. We have seen the S&P 500 index rise from $ 3,800 to $ 4,150. We are witnessing an improvement in the stocks of technology companies and we are facing a divergent path of winners and losers.

He added:

    I think it is very difficult to predict the price at the moment. I know a lot of people who have missed the first, second, third and fourth bitcoin rallies, they have seen where bitcoin is and they have learned over the last few years and they are ready to buy. The next time the price of Bitcoin reaches $ 28,000, $ 27,000, $ 26,000 and $ 25,000, their finger is on the trigger.

According to the analyst, the price of bitcoin is unlikely to fall to $ 25,000, unless there is a major economic shock and causes general fluctuations in the market.

He said in this regard:

    I do not think we will reach $ 25,000 because if the price falls below this range, the demand for purchase will be very high. What could cause the price to fall is a catastrophic event in the world or the world of the stock market or the surrender of the financial markets… is it possible that we will reach $ 25,000 again? Maybe 20%. But if there is a big shock, maybe 30%.

The host of the YouTube channel InvestAnswers suggested to investors to invest in bitcoin only in the form of a deficit. In addition, he warned of how the Federal Reserve raising interest rates and quantitative easing (QT) policies could negatively affect prices.

 He added:

    Big investors know that holders with more than 10,000 bitcoins know that this currency is very limited. Buy only a small portion. Allocate one to two percent of your capital to Bitcoin. This is not a concern for even the most risk-averse investors.

At the end of his analysis, he said:

    That's why I think [reduction to $ 25,000] will not happen… I expect more fluctuations if the Federal Reserve surprises us with another brutal act. We may run into problems if interest rates go higher than expected or contractionary policies hurt the market a little.

At the time of writing, each bitcoin is trading at $ 30,200.