The biggest crypto currency Bitcoin $82,275.12with a decline in the last weeks, even though it declined below 80 thousand dollars, an important name opposes concerns. One of the leading analysts of the crypto money market Credibull CryptoIn the opinion that the correlation between the largest crypto currency and stocks is exaggerated. Emphasizing that long -term investors should focus on technical levels, the analyst said that the current decline could be an opportunity. Other experts warn you to be careful.
The bond between Bitcoin and stocks: real or exaggerated?
Credibull Crypto suggested that Bitcoin’s bond with traditional markets was misinterpreted. The correction in S&P 500 is a healthy movement and crypto currency He states that the market is historically monitoring independent trends. The analyst, “graphics ‘overheated’ moments of the most profitable opportunities,” he said.
According to the latest data, Bitcoin gained 18.6 percent in the 12 -month tongue. However, it is traded 25 percent below the record level of $ 108 thousand 786 reached during the year. Credibull Crypto, 80 thousand – 90 thousand dollars is an important region of support and resistance, stating that the protection of this range will give a positive signal to the market, he added.
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Other experts think differently
On the other hand Peter Brandt Experienced experts such as Bitcoin has created a double hill formation and said that the risk of decrease increased if it cannot go above $ 90 thousand. One of the founders of Bitmex Arthur Hayes 78 thousand dollars in the test level by drawing attention to the test level, 75 thousand dollars can be targeted under warning.
Market data show that long -term optimism continues despite short -term concerns. Crypto fear and greed index A year ago, while pointing to “extreme greed”, now at the level of “extreme fear”. However, Bitcoin’s price is still 20 percent higher than last year. Credibull Crypto ended his analysis by emphasizing that investors should be prepared for both decline and rise scenarios.
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.
