If they lose their faith in the currency, what happens?
Multiple financial experts warned in interviews that investors are showing serious signs of risk aversion as the value of Cryptocurrencies continues to plummet.
According to Craig Erlam, even today's anemic post crash prices are being put to the test as risk aversion sweeps through the markets once more.
Considering the outlook for risk appetite in the near term, it's not looking good, Erlam said.
Naeem Aslam, an analyst, told the outlet that the narrowing of the daily range suggests that investors may start selling off in droves if the price goes up again.
"This is giving us an indication that a massive capitulation is going to happen," Aslam said. "We believe that this capitulation can be any day now, as the price has been in a narrow range for a long time."
Although Aslam said that "bulls are holding on to their ground very well" and not allowing the currency "to get battered" any further downward slumps could spell bad news.
He said that the next move wouldn't be about $18,000 or $15,000. The sell-off could push the prices towards the $12,000 level.
This isn't the first time analysts have predicted a crash of the digital currency, and should the price stay steady, it will not be the last.
It's possible that the sky will fall because of how bad this summer'sCRYPTO crash has been.
Analysts fear a massive capitulation is about to happen.
There is more writing on thecryptocurrencies wall, this time aboutTesla selling off most of itsbitcoin at a huge loss.
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