HomeCryptocurrencyBitcoinBear Over There! Analyst Forecasts Perfect Bitcoin Buy Floor at $3000

Bear Over There! Analyst Forecasts Perfect Bitcoin Buy Floor at $3000


As Bitcoin dips below $4000 after JPMorgan CEO Jamie Dimon’s criticism, analysts are forecasting a return to as low as $3000.

In daily and weekly chart comments Wednesday, Tone Vays led the way predicting a bear market, calling $3000 the “perfect buy.”

“I have strong support at $3,000 so don’t see it going lower,” he added in several commentaries on Twitter.

UPDATE: The 1hr & 4 hr might be close to a bottom for . Overslept “Today in ” on @WorldCryptoNet 🙁 pic.twitter.com/IpIkYriuRN

Daily & Weekly  are a bit mixed, but more Bearish than Bullish. Strong support & perfect  buy is $3,000. Will it get there? pic.twitter.com/EPcx7F3KVI

View image on Twitter

Prices across cryptocurrency markets continue to react to a ‘double whammy’ of Chinese exchange ban speculation and an extant ban on ICOs, which Dimon served to compound.

Bitcoin had reached almost $5000 prior to the China upheavals. As of press time, the price per coin was hovering around $3800 on Bitstamp according to data from Bitcointicker.

Dimon has received broad discredit for his comments at a New York conference in which he compared Bitcoin to “fraud” and that it would sooner or later collapse.

Its only use, he said, was for “North Korea, Venezuela and drug dealers” and even in this scenario this use case was “limited.”

In altcoin markets, NEO, which had reacted especially severely to news from China, lost another 17 percent in the 24 hours at press time to cap 50 percent losses in a week.

Sept. 6 saw Bitfinex add the asset to its exchange, helping boost prices up to $35 before new steep declines.


Cyprus registers Binance as a cryptocurrency service provider.

Binance, a cryptocurrency exchange, will be able to provide services for virtual currencies in Cyprus as a result of the platform's recent registration with the...

More than 24,000 ATMs in Brazil will offer USDT through Tether and Smartpay.

Usdt, the largest dollar-pegged stablecoin on the market, was created by Tether, a company. Tether recently announced that more than 24,000 ATMs in Brazil will...

To solve the blockchain modularity issue, Celestia raises $55 million.

The project Celestia, which seeks to address the alleged centralization issue in the current monolithic blockchains, has announced the completion of its most recent funding...

Hong Kong considers removing the “Professional Investor-Only Requirement” and allowing retail investors to trade cryptocurrency.

Securities and Futures Commission (SFC) of Hong Kong's director of licensing and head of the fintech division both confirmed that the regulator is taking into...

Follow us


Most Popular