Bitcoin could fall below $25,000

City bank strategist Fiona Chincotta predicts a drop in the price of bitcoin below $25,000.

If such a rollback occurs, then sellers will become more active in the market. They can provoke a stronger drop in the value of the cryptocurrency.

Now BTC is correcting around $26,500, here it can count on support from traders who do not want to allow drawdowns.

The expert’s report notes:

The main problem is that the global financial system is in a state of uncertainty. I think bitcoin will only get a boost if the Federal Reserve makes a turn in its policy.

Chincotta believes that the regulator needs to soften the monetary rate, which will lead to a resumption of capital inflows into risky assets. Until we see a change in financial policy, it is unlikely that digital currencies will be able to go on the offensive.

According to K33 Research analysts Bendik Shay and Vetle Lunde, BTC volatility on a monthly basis has fallen to 1.8%.

City Bank also expects Ethereum yields to decline in the coming months. He recalled the strong dependence of the altcoin on BTC. If the largest cryptocurrency weakens, then ETH will also face pressure from the bears.