How low can “Bitcoin” reach? .. These are the experts’ estimates on the lowest price.

The price of Bitcoin cryptocurrency has fallen into a trading range of just over $ 30,000, leading cryptocurrency experts to identify this number as a potential low.

Predicting cryptocurrency trends is risky, not least because the price of Bitcoin has almost halved from a record high of nearly $ 65,000 just three months ago. However, some in the industry agree that $ 30,000 is a supportive level, citing evidence of options activity and recent trading habits.

The low of $ 30,000 is the most present of the options for July and August, indicating confidence among these traders that this level will continue, according to Delta Exchange, a crypto derivatives exchange, CEO Pankaj Palani saying: “.

Merchants are also trying to take advantage of price brackets, including buying between $ 30,000 and $ 32,000 and selling between $ 34,000 and $ 36,000, said Todd Morakis, co-founder of digital financial products and service provider GST Capital, in comments via email, adding that the market “at the moment seems more interested in bad news than most.”

Bitcoin inversions

Bitcoin has suffered several setbacks recently, including a Chinese regulatory crackdown – in part due to concerns about the growing energy consumption of crypto miners – and advances in central bank digital currency projects that could put pressure on private cryptocurrencies.

The creator of Dogecoin, which was created as a joke to ridicule Bitcoin when it was launched, recently dealt the cryptocurrency a blow, calling it a hoax, and the appetite for speculation has generally waned.

Bitcoin was trading at around $ 31,600 this morning in London and is down around 6% this week. But the price is still up over 200% over the past 12 months, despite the 2021 crash.

Konstantin Richter, CEO and founder of Blockdaemon, a blockchain network infrastructure provider, is hoping for institutional demand, arguing that Bitcoin must drop below $ 20,000 before institutions start questioning the “health” of the industry .

“If the price goes down quickly, it can also go up quickly,” he said in an interview. “This is exactly what crypto is.”