By Tobi Loba
Henrik Zenberg, a macro-economist and crypto trader, who predicted the last significant dump of Bitcoin price, has recently averred that BTC looks fragile, which indicates a possible dump from $7,300 price region.
For the past few days, Bitcoin (BTC), the largest cryptocurrency by market cap, has been changing hands above $7,000.
This growth instability makes some crypto analysts envisage a possible price crash, while some others, such as Tone Vays, remain bullish.
Henrik Zenberg Says Bitcoin (BTC) Looks Fragile
Moments ago, Henrik Zenberg, a macro-economist and crypto trader, took to Twitter to hint at his observation regarding the price trend of Bitcoin (BTC).
“Bitcoin looks fragile here….!” Henrik Zenberg shared.
#Bitcoin looks fragile here….! pic.twitter.com/miQN2ToFk3
— Henrik Zeberg (@HenrikZeberg) April 9, 2020
Meanwhile, Henrik Zenberg predicted the price dump of Bitcoin (BTC) from $9,200 to $3,000 price region.
On 1st February 2020, Zenberg tweeted that Bitcoin Wave C in 5 waves would bring the price of the digital currency down to $2,000.
“Bitcoin Wave C in 5 waves should bring us down to ~2000 USD. Often trendline set by wave 2 through 4 – gives the bottom of wave 5 (through 3). I will eventually buy- but not yet…… not yet…..!” Henrik Zenberg shared
#Bitcoin Wave C in 5 waves should bring us down to ~2000 USD. Often trendline set by wave 2 through 4 – gives the bottom of wave 5 (through 3). I will eventually buy #Bitcoin – but not yet…… not yet…..! pic.twitter.com/GDu7RB8Cx2
— Henrik Zeberg (@HenrikZeberg) February 1, 2020
Afterward, BTC dropped by relatively 60% to $3,800 in a matter of days, before another price resurgence. At press time, BTC is trading at $7,309.91, with a 0.13% price increase in the last 24 hours.
Henrik Zenberg Says Bitcoin (BTC) Price Could Drop to $1,000 Price Level
According to the tweet shared by Henrik Zenberg on 7th April, Bitcoin (BTC) and Gold could experience another massive sell-off.
He then predicted that this could dump the price of Bitcoin to $1,000 price level before it could bottom.
“Bitcoin and Gold are so misunderstood at this point! We have strong illiquid phase in front of us. SP500 from ~2600 to ~1800. That is another ~30% drop! Everything will be sold off! I have take my target for Bitcoin down to ~1000 USD before bottom,” Henrik Zenberg.
#Bitcoin and #Gold are so misunderstood at this point! We have strong illiquid phase in front of us. SP500 from ~2600 to ~1800. That is another ~30% drop! Everything will be sold off! I have take my target for Bitcoin down to ~1000 USD before bottom pic.twitter.com/Q0ugvqddlZ
— Henrik Zeberg (@HenrikZeberg) April 7, 2020