Bitcoin (BTC) traded worryingly near $30,000 support on June 8 amid fresh predictions of incoming lows.
BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewBTC price hints at “sub $30,000” move
No amount of good news was able to help bulls, with potential adoption breakthroughs in Latin America conspicuously doing nothing to boost lackluster price action.
U.S. Treasury Secretary Janet Yellen likewise failed to lift the mood when she voiced support for higher inflation.
Instead, Bitcoin dropped to $32,000, at the time of writing coming off a rebound to $33,000.
For popular trader Crypto Ed, the outlook was uninspiring — and even included a trip below the $30,000 mark.
“It did the white ABC I posted before the weekend,” he told Twitter followers, referring to a forecast price rotation.
“Now in green box but I’d expect 1 more leg down today, followed by a bounce to ~35k From there down