Bitcoin $55,763.36 The year 2024 had started very fast for . When the calendars showed January 10, 2024, there was a noticeable increase in BTC trading volume due to spot Bitcoin ETFs that started trading, and the approaches of institutional investors had changed visibly. This change also caused an interesting event to occur. An unprecedented event occurred in the market and BTC reached its ATH before the halving. It was said that ETFs had a great impact on this change experienced during the cycle. BTC rose to $ 73,500, but its decline was just as sharp afterwards. At this point, the complicated expectations of analysts continue to be reflected in their views.
Analysts Comment on Bitcoin
In recent days when cryptocurrencies have experienced a deep decline, analysts were seen to have different opinions. While some continued their bullish expectations, others made statements reflecting their anxiety. Despite this, it was understood from the statements made by the two analysts on X that they had similar views. A Prize Pool Worth 21 Million TL Awaits You from BinanceTR! Participating and winning has never been easier.. You can sign up to BinanceTR from this link. Get your first crypto!
First of all, Micael van de Poppe, one of the leading analysts of the market, commented that the bad days might be close to an end when looking at the X share.
Van de Poppe made the following statement:
Yes, indeed. Drop to get liquidity.
A brief bounce to the upside is likely in #Bitcoin before liquidity drops below $52.5k and potentially creates a bullish divergence and reverses. Otherwise, $48k is next. The pain is almost over.
On the other hand, Yoddha, who drew attention with her comments in X, emphasized that a similar process was experienced by pointing to the past cycle and said the following:
Here is the previous #Bitcoin Here is a detailed summary of the rally compared to the current price action:
2017 –> Best <– 2021
2018 –> Correction <– 2022
2019 –> Bottom <– 2023
2020 –> First new peak <– 2024
2021 –> Bull enthusiasm <– 2025
How Many Dollars is 1 Bitcoin?
The decline for Bitcoin continued today. In particular, in the past hours, it was seen that the BTC price fell below $ 53,000 and almost fell to $ 52,500. Currently, the price is at $ 53,700 after a 4.34% decrease in the last 24 hours.
While the RSI value for BTC points to 34.23, this can be interpreted as approaching the oversold region, from which a price jump can also be seen, although not definitively.
While the market volume for BTC decreased to $1 trillion, the transaction volume exceeded $48 billion.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
