Leading cryptocurrency Bitcoin (BTC) While continuing its horizontal course, the largest altcoin Ethereum (ETH) it surpassed $3,100 over the weekend.
While BTC remains relatively more inactive than ETH, investors are wondering whether there will be a correction in the BTC price.
Speaking to Coindeks at this point, FxPro senior market analyst Alex Kuptsikevich said Bitcoin could see a short-term correction to $47,000.
“Bitcoin price has fallen below $51,000, which is near the bottom of its consolidation range over the last eight days.
“If there is no bounce in Bitcoin from these levels, we could see the start of a deeper correction that could potentially drop to $47,000-$49,000.”
The analyst also stated that BTC and cryptocurrency investors are acting a little more cautiously. “Since Friday morning, selling has prevailed in the cryptocurrency market, despite many global equity indexes seeing all-time highs. “As a very sensitive indicator, the crypto market may be signaling that investors are becoming a little more cautious.” said.
Bitcoin At the time of writing, it continues to be traded at $ 51,280.
*This is not investment advice.
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