China bans cryptocurrency influencers; experts predict Bitcoin will drop to $20,000

There is never a shortage of news in the cryptocurrency circle, and prices sometimes soar and sometimes plummet. In particular, the current domestic policies on cryptocurrencies such as Bitcoin are becoming increasingly stringent. Recently, many big V accounts in the cryptocurrency circle have been banned.
According to reports, the Weibo accounts of cryptocurrency celebrities such as Trader Xiaoxia, Fat House Bitcoin, Myna Talking about Coins, Super Bitcoin, and Blockchain William have been banned. The relevant page shows that the account is now unavailable due to complaints of violating laws and regulations and relevant provisions of the Weibo Community Convention.
After the big V in the cryptocurrency circle was banned, the price of Bitcoin only fluctuated briefly, but now it has recovered. As of press time, the price of Bitcoin is $36,360, up about 1%.
However, there are differences in the cryptocurrency circle regarding the future price trend, and some people are even seriously pessimistic about the future price. Evercore technical analyst Rich Ross predicted last Friday that the price of Bitcoin will be tested at the $29,000 mark and may drop to $20,000 in the future. He bought it at $41,000 and is now a seller and hopes to sell it.
The price of $20,000 is of great significance to Bitcoin and even the entire cryptocurrency circle. At the end of 2017, the craziest price of Bitcoin was $20,000, but in early 2018, a mining accident occurred and the price plummeted to more than $6,000. At the lowest, it was only around $3,000.
During this round of price surge, Bitcoin rose to US$20,000 in mid-December 2020, recovering its lost ground, and the price began to soar thereafter. It broke through US$30,000 in early January this year, and rose all the way to US$60,000 in April, reaching a peak of US$65,000. However, the price fell after May and hovered between US$30,000 and US$40,000 for a long time.