DonAlt analyst believes that BTC will fall to $11,000 in the current trend

The expert, who posts under the nickname DonAlt, wrote that, in his opinion, Bitcoin will reach the $11,000 mark. He justified his arguments by the fact that now the cryptocurrency market as a whole is moving in a global downtrend. In addition, he analyzed the period from 2014 to 2015 and from 2017 to 2018. During these periods of time, the main cryptocurrency lost in price very much, and this year bitcoin has already lost 77% of its historical maximum.

The first powerful downward trend ensured the fall of the coin by 86%, and the second squandered the main cryptocoin by 84%. If we follow the same trend in the current Bitcoin cycle, then the so-called “bottom” will be between $9,500 and $11,000 of BTC value.

Well-known economist Peter Schiff reacted positively to the forecast from DonAlt and agreed with his arguments. In addition, he announced that the cost of bitcoin would be $10,000, backing up his guess with the fact about the largest bitcoin fund Grayscale Bitcoin Trust. Grayscale Bitcoin Trust units are currently worth 43% less than BTC.

Schiff is still waiting for the sale of bitcoin, which he commented on:

The real sale of bitcoins has not yet begun. The bottom of the coin rate is still far away. I have been warning for years that people who have lost money on investments in digital assets will file lawsuits against those who have made a profit on cryptocurrencies.

In addition, Peter Schiff did not disregard, perhaps, the main topic that is discussed on the open spaces of the platforms where crypto enthusiasts communicate, the fall of the American FTX exchange. According to him, Peter would never allow an investment in a crypto trading platform and could find signs of an impending collapse in 10 minutes. He called Sam Bankman-Fried a swindler who manages to deceive investors only because of their naivety.