{"id":572625,"date":"2022-06-19T12:46:33","date_gmt":"2022-06-19T11:46:33","guid":{"rendered":"https:\/\/en.ethereumworldnews.com\/?p=572625"},"modified":"2022-06-19T12:46:33","modified_gmt":"2022-06-19T11:46:33","slug":"bitcoin-under-20k-feels-irrational-says-gemini-co-founder-cameron-winklevoss","status":"publish","type":"post","link":"https:\/\/en.ethereumworldnews.com\/bitcoin-under-20k-feels-irrational-says-gemini-co-founder-cameron-winklevoss\/","title":{"rendered":"Bitcoin Under $20k Feels Irrational, Says Gemini Co-Founder Cameron Winklevoss"},"content":{"rendered":"<p>Summary:<\/p>\n<ul>\n<li>Gemini crypto exchange co-founder, Cameron Winklevoss, believes Bitcoin below $20k seems irrational.<\/li>\n<li>Mr. Winklevoss also pointed out that Bitcoin&#8217;s underlying fundamentals, adoption, and infrastructure remain strong.<\/li>\n<li>CZ also highlighted fundamentals as being crucial during both bull and bear markets.<\/li>\n<li>However, Bitcoin remains in a bear market with room for further losses.<\/li>\n<\/ul>\n<p>The Co-founder of the <a href=\"https:\/\/en.ethereumworldnews.com\/gemini-blames-crypto-winter-staff-cuts\/\" target=\"_blank\" rel=\"noopener\">Gemini Crypto exchang<\/a>e, Cameron Winklevoss, believes that Bitcoin trading below $20k feels irrational.<\/p>\n<p>According to Mr. Winklevoss, Bitcoin&#8217;s trading below the crucial $20k is illogical given that its fundamentals, adoption, and infrastructure are more robust than before. He shared his insights into Bitcoin through the following tweet.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Ok, bitcoin under 20k feels like an over-rotation. The underlying fundamentals, adoption, and infrastructure have never been stronger. We saw the irrational top. This feels irrational in the other direction.<\/p>\n<p>&mdash; Cameron Winklevoss (@cameron) <a href=\"https:\/\/twitter.com\/cameron\/status\/1538205427070017536?ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">June 18, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2>CZ: Look for Fundamentals In Bull and Bear Markets.<\/h2>\n<p>In a similar tweet, the CEO of Binance, <a href=\"https:\/\/en.ethereumworldnews.com\/cz-binance-has-a-healthy-war-chest-to-weather-the-crypto-winter-will-expand-hiring\/\" target=\"_blank\" rel=\"noopener\">CZ<\/a>, recommended that the crypto community look for fundamentals during both bull and bear markets. He <a href=\"https:\/\/twitter.com\/cz_binance\/status\/1538245666555801605\" target=\"_blank\" rel=\"nofollow noopener\">said<\/a>:<\/p>\n<blockquote><p>Lesson learned:<\/p>\n<p>In bull market, look at fundamentals.<\/p>\n<p>Also: In bear market, look at fundamentals. Well: Look at fundamentals.<\/p><\/blockquote>\n<h2>Bitcoin Could Drop to $10k &#8211; Timothy Peterson.<\/h2>\n<p>Concerning value, Bitcoin and crypto analyst <a href=\"https:\/\/en.ethereumworldnews.com\/chainlink-could-have-a-positive-run-between-april-and-august\/\" target=\"_blank\" rel=\"noopener\">Timothy Peterson<\/a> has forecasted a scenario whereby BTC drops to as low as $10k.<\/p>\n<p>According to Mr. Peterson, Bitcoin&#8217;s fate is tied to that of the Nasdaq, which could drop by an additional 50% from its current value. Consequently, Bitcoin could fall to as low as $10k in the following months or years. His Bitcoin forecast of $10k can be seen in the tweet below.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/NASDAQ?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">#NASDAQ<\/a> P\/E = 22, <a href=\"https:\/\/twitter.com\/hashtag\/recession?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">#recession<\/a> level P\/E probably 8-9.  Assuming no change in earnings. implies NASDAQ -50%.  <a href=\"https:\/\/twitter.com\/hashtag\/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">#bitcoin<\/a> could follow to below $10k.  This correction occurs over months and years, not weeks and days. <a href=\"https:\/\/t.co\/Lq1lKCQV61\" rel=\"nofollow\">pic.twitter.com\/Lq1lKCQV61<\/a><\/p>\n<p>&mdash; Timothy Peterson (@nsquaredmacro) <a href=\"https:\/\/twitter.com\/nsquaredmacro\/status\/1538287204099067906?ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">June 18, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2>What the Daily BTC\/USDT Chart Says.<\/h2>\n<p>A quick look at the daily BTC\/USDT chart reveals that Bitcoin is again attempting to reclaim the crucial <a href=\"https:\/\/en.ethereumworldnews.com\/bitcoin-maintains-its-20k-support-amidst-anxiety-over-the-us-feds-75-basis-point-hike\/\" target=\"_blank\" rel=\"noopener\">$20k support<\/a> level after setting a local low of $17,622 &#8211; Binance rate.<\/p>\n<p><a href=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2022\/06\/BTCUSDT_2022-06-19_14-39-47.png\"><img class=\"aligncenter size-full wp-image-572629\" src=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2022\/06\/BTCUSDT_2022-06-19_14-39-47.png\" alt=\"\" width=\"991\" height=\"546\" srcset=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2022\/06\/BTCUSDT_2022-06-19_14-39-47.png 991w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2022\/06\/BTCUSDT_2022-06-19_14-39-47-300x165.png 300w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2022\/06\/BTCUSDT_2022-06-19_14-39-47-770x424.png 770w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2022\/06\/BTCUSDT_2022-06-19_14-39-47-500x275.png 500w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2022\/06\/BTCUSDT_2022-06-19_14-39-47-269x148.png 269w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2022\/06\/BTCUSDT_2022-06-19_14-39-47-746x411.png 746w\" sizes=\"(max-width: 991px) 100vw, 991px\" title=\"\"><\/a><\/p>\n<p>Also, from the chart, Bitcoin is still in oversold territory, having deviated considerably from the 50-day (white) moving average. The daily MFI, RSI, and MACD also confirm the oversold situation behind Bitcoin&#8217;s attempt at reclaiming the $20k level.<\/p>\n<p>However, caution is advised when going long on Bitcoin due to the correlation to traditional markets, as highlighted by Mr. Peterson above. As a result, the weekly close later tonight and Monday&#8217;s open in the Asian, European, and US markets will determine Bitcoin&#8217;s fate in the new week.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Summary: Gemini crypto exchange co-founder, Cameron Winklevoss, believes Bitcoin below $20k seems irrational. Mr. Winklevoss also pointed out that Bitcoin&#8217;s underlying fundamentals, adoption, and infrastructure remain strong. CZ also highlighted fundamentals as being crucial during both bull and bear markets. However, Bitcoin remains in a bear market with room for further losses. The Co-founder of the Gemini Crypto exchange, Cameron Winklevoss, believes that Bitcoin trading below $20k feels irrational. According to Mr. Winklevoss, Bitcoin&#8217;s trading below the crucial $20k is [&hellip;]<\/p>\n","protected":false},"author":22,"featured_media":570881,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[800],"tags":[108421,6962,1233,6961],"_links":{"self":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/572625"}],"collection":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/users\/22"}],"replies":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/comments?post=572625"}],"version-history":[{"count":2,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/572625\/revisions"}],"predecessor-version":[{"id":572630,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/572625\/revisions\/572630"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media\/570881"}],"wp:attachment":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media?parent=572625"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/categories?post=572625"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/tags?post=572625"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}