Bitcoin (BTC) Price Crashed 4% in 24 Hours as Experts See More Declines Coming

The current trade price of Bitcoin (BTC), the top crypto asset by market cap, is $63,831. The trade price of Bitcoin crashed rapidly in the last 6 hours.

Bitcoin (BTC) price hit its lowest price in the last 24 hours at $63,617 with the highest price being $66,313. This marks a correction of over 4% in the BTC trade price. 

Despite the bearish sentiments, some crypto experts believe that the trade price of Bitcoin is set to pump soon.

However, several indicators suggest a potential opportunity for further accumulation or short-selling.

Bitcoin price crashes 4% in 24 hours

After hitting an all-time high of $66,313 on June 20, Bitcoin price crashed rapidly, hitting a lowest trade price of $63,617. This marks a decrease of more than $2,700 in less than 6 hours.

After crashing to the lowest price, BTC price recovered slightly to trade above the $64,000 level. At the time of writing, Bitcoin price is trading at $63,831, showcasing a loss of 1.68% in the last 24 hours.

Bitcoin price set to pump ‘soon’

Despite bearish sentiments and several indicators suggesting an opportunity for further sell-off, several crypto experts are expecting a significant pump in the trade price of Bitcoin.

Earlier this week, Robert Kiyosaki, author of the personal finance book “Rich Dad Poor Dad,” highlighted the importance of studying the markets and accumulating Bitcoin (BTC) in bear markets. Kiyoshi also highlighted that he is expecting a pump in the BTC price “soon.”

Kiyosaki has been a vocal advocate for Bitcoin and other cryptocurrencies, highlighting their potential to hedge against inflation and generate wealth. His latest statement aligns with his bullish outlook on the digital asset class.

Moreover, a recent report by Deutsche Bank suggests that Bitcoin price could hit $28,000 by the end of 2022, showcasing a potential decrease of 55% from the current price.

The report also adds that the flagship cryptocurrency is unlikely to trade above the $30,000 level in the next two years. Deutsche Bank analysts believe that Bitcoin price is currently ‘unsustainable’ and could correct further.

German government sells 6,500 BTC

The German government, through a wallet that is being tracked by crypto tracking platform Arkham, moved 6,500 BTC on June 19 from a stash of nearly 50,000 BTC that was seized from the Movie2k operation.

This sparked speculation in the community about a potential sale, as the moved BTC was partially transferred to exchanges Kraken and Bitstamp, while the government wallet now holds 43,359 BTC.

However, it is important to note that not all transferred funds have been liquidated, and it remains unclear whether the German government is planning to sell the BTC in full or realized any gains from the move.