The Bitcoin market is facing a new wave of volatility, with analysts warning of the potential for the price to drop to $70,000 in the next ten days, amid rising concerns about the impact of the trade war led by the United States on investor confidence in high-risk assets.
In his latest analysis on platform X, economist Timothy Peterson noted that Bitcoin could return to its peak level in 2021, considering $70,000 to be the "practical bottom" for the cryptocurrency at this time. He explained that the increasing impact of high U.S. tariffs could exacerbate selling pressures on Bitcoin, thus enhancing the likelihood of a decline.
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