Bitcoin’s correction of its peak in January is a typical decline in the course and is not outside, as it remains the highest price on the horizon, says encryption analysts and executive managers.
“I don’t think Bull Run has ended,” Ben Simpson, CEO of Cointelegraph said.
Bitcoin, which suffers from expected decline
Simpson said: “It is only the third or fourth correction we have more than 25 % we have in Bitcoin this course compared to the last 12 rounds,” Simpson said.
Bitcoin (BTC) decreased by 24 % of its highest level ever at $ 109,000 on January 20 and in uncertainty about US President Donald Trump’s tariff and the future of American interest rates, but Simpson called it “natural correction”.
He said: “The temperature of things has risen, and they needed to calm, and the market needs to find a new basis, and now we are waiting for the following new narration.”
Bitcoin decreased by 13.58 % during the past month. source: Coinmarketcap
Derive Nick Forster shared a similar point of view, and told Cointelegraph that Bitcoin “is likely to be in the regular correction phase, with the continuation of the summit of the course.”
“From a historical point of view, Bitcoin tests these types of corrections during long -term gatherings, and there is no reason to believe that this time is different,” he said.
After Trump was elected in November, Bitcoin increased by approximately 36 % throughout the month, reaching 100,000 dollars for the first time in December. At publication time, Bitcoin is trading at $ 82,824, According to To Coinmarketcap.
However, Forster added that the fate of bitcoin for six months seems to be increasingly associated with traditional markets. Likewise, the CEO of independent reserve company, Adrian Berzelosni, told CointeleGraph that not only Bitcoin is affected by the conditions of macroeconomic economics.
“This is spreading in all categories of assets and may lead to a rise in global inflation and contraction in international growth,” said Barzelosni.
source: Charles Edwards
Forster said that the current price of Bitcoin is in line with the previous behavior before the high prices, although it seems “turbulent” at the present time.
“The current trend of Bitcoin may change quickly
Simpson of the group transformation group said the next narration is likely to revolve around US price discounts, reduce quantitative tightening, and increase global liquidity.
However, the founder of Capriole Investments Charles Edwards said he was not sure whether Bitcoin Bull Run has ended or not.
Edwards said:
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“Yes, from the perspective of ONSAIN at the present time, but this may change quickly if the Federal Reserve begins to calm in the second half of the year, stop reducing the public budget, and liquidity increases in dollars as a result, I think it has decent possibilities,” Edwards explained.
The comments come a day after the Cryptoquant Ki Young JU announcement that “Bitcoin Bull has ended.”
“We expect 6 to 12 months of declining or side work for prices,” said.
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