Bitcoin Dropped Below 60 Thousand Dollars Again!

Following the upward trend seen in the cryptocurrency markets in recent months, there was a sharp correction with the influence of the Iran-Israel tension. Bitcoin price on Wednesday for $59,900 It fell below 60 thousand dollars for the first time since the beginning of March. 59 thousand threshold Bitcoin, which is discussed whether to test it or not, entered an upward trend again immediately afterwards.

Bitcoin price had started to retreat after hitting an all-time high. However, with the upcoming halving, this correction was limited. Following Iran’s attack on Israel on Saturday, there was an atmosphere of panic in the markets and Cryptocurrency markets were red. During the same period, the loss of value of other crypto assets could reach 40%-50%.

Corrections took place in cryptos

Market Strategist from LMAX Group Joel KrugerHe stated that, looking at past crypto investor behavior, this situation may continue for a while. Kruger stated that looking at the movements in the markets, large investors have not yet started buying from the bottom and therefore the decline will continue. Kruger reminded that the critical threshold was 59 thousand dollars, which was tested twice in March.

On the other hand, bitcoin has started to compensate for its losses. unlike whales Small investors seem to have started investing again after the tension between Iran and Israel stopped for the moment. The markets are expected to be active with the upcoming bitcoin halving.

Do you think the bitcoin price will continue to rise in the coming period?