Here’s Why Bitcoin’s Drop Below $20,000 This Week Will Be Very Different From Last Week: Economist Alex Krueger

One economist believes that if Bitcoin (BTC) drops below $20,000 this week, its nature will be fundamentally different from the price drop last week.

Alex Krueger tell Of her 137,500 Twitter followers, the number of stop orders under $20,000 is “pretty low compared to what it used to be.”

“Many traders like me have shorted $20,000 and will never go short again because the low presence of stops makes shorting less attractive.”


Typically, traders enter stop-loss limits when executing a trade, asking the exchange to sell their positions automatically once the asset reaches a certain price level.

Bitcoin is trading at $20,603.37 at the time of writing. The top-rated crypto asset by market capitalization has risen over 1.4% in the past 24 hours, but is down more than 2.1% in the past seven days. It is still more than 70% of its record height.

explain krueger,

“The big difference between BTC and ETH between now and last week is that a dip now below $20,000/$1,000 would be for a lot of buying opportunities, whereas last week it was below $20,000/$1,000 *strictly* for sale (panic sellers). , forced sellers and specialist sellers).

The Economist expect The price of Bitcoin will rise so much now that panic sellers will be punished.

“I want to see a quick reaction over the next couple of days. The best gatherings are those that don’t make a commitment to the latecomers.

Entry now gives traders 2:1, 3:1 risk reward.”

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Main image: Shutterstock / Vadim Sadovski

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