Bitcoin, which made a rapid rise from $ 15,500 to $ 45,800, has fallen by approximately 10% to $ 40,750 as of today. So, has the expected correction occurred in Bitcoin before the Bull season and will the decline continue?
Will the expected correction in Bitcoin occur?
Those who closely follow cryptocurrencies are waiting for Bitcoin EFT approval to come on January 10. Many people expect that once Bitcoin receives EFT approval, the Bullish season will begin and Bitcoin’s ATH (All Time High) will rise to its all-time high. Of course, here in 2024 halving event will occur expectations are also increasing.
Although some experts claim that Bitcoin will rise with the EFT approval to be announced on January 10, some experts say that the classic “Buy the Rumor, Sell the NewsIt reminds me of the saying. In other words, even if EFT approval comes on January 10, there is a large segment of people who expect a serious decline after the approval.
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However, Bitcoin, which has been rising for a long time, was also expected to make a correction. Today, Bitcoin dropped approximately 10% to $40,750. With the reaction from here, it rose to 42,800 levels again. However, after weak purchases, there appears to be a downward trend.
The information we share here is definitely not investment advice and is only a brief summary of the event. Cryptocurrencies are the world’s riskiest investment tool and are highly volatile. We never recommend that people without experience turn to this field.
What are your opinions about the course of Bitcoin? Do you think Bitcoin will break its ATH in 2024?