Analyst: Bitcoin may fall to $7,000 before it rises rapidly to a record high

Encryption analyst and economist ALEX KRUGER recently issued a statement that Bitcoin is still in a long-term bull market trend. In the near term, $9,000 is a key support level. If the BTC price is between $9,500 and $9,000, then collapse and collapse. Before the rapid rise to a record high, Bitcoin could fall to $7,000. He believes that Bitcoin will surpass the $20,000 mark in 2020 or 2021 and soar to $50,000. He said that the unfavorable factors affecting the price increase of Bitcoin include that the new mining machine has increased the difficulty of mining and put pressure on profits. The favorable factors are that BTC futures launched by BAKKT will be officially launched on September 23. And with the related services of cryptographic assets provided by Fidelity and US securities giant TD AMERITRAD, Volkswagen's interest in crypto assets has also increased significantly.