Bitcoin price may still drop 40% after FTX ‘Lehman moment’ — analysis

Bitcoin price may still drop 40% after FTX ‘Lehman moment’ — analysis

Bitcoin (BTC) saw a fresh rejection at $17,000 on Nov. 18 as nervous markets weathered more FTX fallout.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView

BTC gets $12,000 price target

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD failing to flip $17,000 to support — a trend in place for almost a week.

The pair, like major altcoins, remained firmly tied down by cold feet over the FTX debacle and its knock-on effects for various crypto businesses.

For analysts, the…


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