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Bitcoin price may still drop 40% after FTX ‘Lehman moment’ — Analysis
Bitcoin (BTC) saw a fresh rejection at $17,000 on Nov. 18 as nervous markets weathered more FTX fallout. In an extensive market summary, QCP wrote that its price forecasts for both Bitcoin and Ether (ETH) now had to drop to reflect the impact of FTX. “As a side-note, crypto markets have been trading akin to commodities ever since the 2017 top — with extended Wave 5s as the longest wave,” the post added. “The Lehman bankruptcy was the climax of the 2008 financial crisis. “Never say never, and don’t let your guard down.” the post summarized alongside more explanatory charts. Source: Cointelegraph #Bitcoin
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