Bitcoin $79,984.07 The recent fluctuations in the price attract the attention of market analysts. Cryptoquant CEO, which Young Ju, stating that the bull cycle is still going on, emphasizes that harsh corrections in the price are usual. According to the analyst, Bitcoin can maintain the rise trend in the long run, but the fact that it goes below some critical levels may terminate a bull cycle.
Possible Price Correction in Bitcoin
Young Ju says that there may be a decline of up to 30 %in the price of Bitcoin in the bull cycle. According to the analyst, such corrections can create purchasing opportunities in the market. If Bitcoin goes below $ 75,000, the expectations of rise may be difficult.
Bitcoin had previously experienced similar corrections in the bull cycles, but the long -term trend had preserved. The current market dynamics show that investors should be careful. At this point, it is emphasized that the $ 75,000 level is one of the critical support points.
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Liquidity movements and consolidation
Bitcoin price is expected to enter the consolidation process between $ 75,000 and $ 100,000. The input of the new liquidity in the market can determine how long this band will last. Analysts, especially Spot processing volumes intensify at the level of $ 100,000.
Young Ju, emphasizing that the new liquidity will determine the direction of the market, “Bitcoin spot volume is active at $ 100,000. Prices may decline when new liquidity decreases during distribution periods. The important question is where the new liquidity will come from ”.
Bitcoin was traded at $ 84,247 at the time of the news. This price is about 22 %below $ 108,786, the highest level of all previous times. Investors continue to determine their strategies by closely following Bitcoin’s price movements.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
