The president of the Russian Association of Cryptoindustry and Blockchain (RACIB), Yuri Pripachkin, believes that there is no reason for Bitcoin to fall below $ 4,000.
Speaking to reporters, he stressed that the main reason for the collapse of Bitcoin and the entire cryptocurrency market was the updating of the Bitcoin Cash network. Two development teams came into conflict with each other, with the result that the so-called “war” began between Bitcoin ABC and Bitcoin SV .
This conflict was the main factor that provoked panic in the camp of traders, which led to the collapse of the cost of bitcoin and altcoins. However, there is no reason for the further fall of the coin, so at any moment the dynamics of the market may change for the better.
The RACIB President noted :
When developers stop mutual hostility and can agree, it can lead to the return of a positive trend. Bitcoin cost recovery should take place at the end of November.
Pripachkin is sure that falling below $ 4000 is almost impossible, but this option cannot be completely ruled out either. Now bitcoin is trading at $ 4,284.
If the conflict between developers develops into an even more aggressive confrontation, then trust in the cryptocurrency market will be undermined, and investors are unlikely to agree to invest their capital in it.
Bitcoin's decline in the Russian market will have practically no effect, so we should not worry too much about this, the expert added.
