Bitcoin Could Fall As Much As 50%: Bitmine Chair

Bitcoin prices can see a sharp drop of nearly 50% as per Bitmine Chair Tom Lee. The prediction comes at a time when the price of the OG-crypto has seen drastic volatility owing to dampened market sentiments and geopolitical unrest. Following weeks of growing hostility and trade restrictions between Washington and Beijing, the White House announced that President Donald Trump will meet with Chinese President Xi Jinping in South Korea next week. This action temporarily eased market anxiety. Both parties have expressed interest in stabilising economic relations, and it is anticipated that the main topics of discussion during the scheduled meeting will be tariffs, technological regulations, and regional security. In the meantime, Trump’s announcement of fresh sanctions on Russia’s biggest oil companies, Lukoil and Rosneft, over the ongoing conflict in Ukraine heightened relations with the country.