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Bitcoin Losing Out to Gold Has Analysts Eyeing $30,000 Level

  • Trenchev, Stockton see potential for significant further drop
  • 22V highlights relationship with gold price as concern
Updated on

Bitcoin traded near a more than two-week low as fears of a possible Russian invasion of Ukraine prompted some analysts to predict the largest cryptocurrency could slide toward the key $30,000 level.  

Bitcoin was little changed after touching a low of $36,372 on Tuesday after Russian President Vladimir Putin said he’s recognizing two self-proclaimed separatist republics in eastern Ukraine and ordering troops there. Other cryptocurrencies also fluctuated amid the political uncertainty, with Ether off as much as 3% before edging higher and XRP down as much as 6.7%.