- Bitcoin crashes down to around $38K.
- The crypto market is in chaos as investors have conflicting opinions.
- Analysts are waiting for a bigger drop.
After the major crash that started a week ago, Bitcoin crashed again to hit about $38K. The drop started with Bitcoin reaching $43K on April 6. After that, Bitcoin plummeted to around $39K on April 11 before its new low.
Cryptocurrencies investors expressed conflicting opinions about the drop, as many major analysts are waiting for “the $36K drop”. Other investors are taking advantage of this chance to buy more assets in the market.
One very interesting point of view was suggested by the crypto investor and YouTuber, Lark Davis. In his YouTube video entitled, “Bad News For Bitcoin & Crypto,” the dip is caused by the white house stating that inflation numbers for March are extremely high.
Davis also shared the news on his official Twitter (NYSE:TWTR) account, where he commented, “White House is warning that the new inflation numbers for March are going to be “extremely elevated.” Feb was 7.9%, how bad will March be? 8.5%? Higher? It’s been fun guys…”
During the last 24 hours, Davis shared another tweet, where he pointed out that Bitcoin is still holding its ground at around $38K.
Haven’t looked at the charts all weekend. Happy to see #bitcoin still holding the line! pic.twitter.com/MiUYv8WWri— Lark Davis (@TheCryptoLark) April 17, 2022
Crypto news Twitter account CryptoWhale shared a tweet regarding the late news, saying, “Bitcoin crashing… exactly as predicted!” The tweet had many replies expecting a bigger drop, where some commented, “call me at $9K” and “waiting for $14K.”
While Bitcoin is swinging at around $39K, other cryptocurrencies are also dropping. Currently, Ethereum is around $2.9K, BNB is around $400, and Solana is swinging around $97.
Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.