Can Major Cryptocurrencies Drop Even Lower?

Analysts are concerned that some of the most popular tokens in the cryptocurrency in the world could fall even farther than they did previously. Bitcoin, Ethereum, and Dogecoin have been slumping famously for a couple of months, and there are those who believe they would fall farther. Benzinga conducted a survey asking investors about these tokens and uncovered some interesting results. Nearly 40% of respondents believed that Bitcoin can drop below $30,000 by the end of March. In the same survey, over 40% of respondents believed that Ethereum would drop below $2000, and almost 35% of those responding to the survey believed that Dogecoin would drop below 10 cents by the end of March. While a survey does not equate to a certainty, it’s clear that investors are concerned about this protracted slide in the cryptocurrency market. For what it’s worth to investors, Bitcoin is off its 200-day simple moving average by almost 16%, Ethereum is off almost 18% and Dogecoin is off more than 33%. At press time, Ethereum was trading at just over $2600, down a fraction of a percent in early activity.