The sharp decline in Bitcoin (BTC) may be due to the price reaching the target.
Senior cryptocurrency analyst Lucy Hu said in a statement on WeChat. in Bitcoin from the huge decline immediately noticeable He included statements.
Analyst says Bitcoin has been in decline since October experienced a 70% increase He mentioned that investors may have reached their year-end target, taking this into account, and stated that a correction that may occur in the market is a part of the profit-taking process.
The analyst also said, “This This week’s US inflation data and central bank interest rate decision may lead to a correction in the price.” he said. But not yet a Even though there is no data in the morning hours (GMT+3) in Bitcoin a big fix happened. The data in question is still in the Bitcoin price to mobility will lead to It is estimated.
Price correction, as the analyst mentioned Bitcoin investors It came to mind that it might be due to the price target being reached.
Bitcoin, which fell to $ 40,500 in the morning hours, at the time of writing from $41,900 is being traded.