While the cryptocurrency market has witnessed significant declines in the last 24 hours, experienced analysts warned that further declines may come.
The cryptocurrency market, especially Bitcoin, generally saw significant withdrawals as of the early hours of March 15. Bitcoin has increased approximately in the last 24 hours. 8%if Ethereum down 8.2% testified.
Making a statement on the subject FxPro senior market analyst Alex Kuptsikevich In an email to CoinDesk Global, he warned that the correction could deepen as he focuses on the reasons behind the declines.
Pointing out that many investors made profits as prices reached new peaks, Kuptsikevich said that this situation brought selling pressure He reminded me that he brought it.
However, with the increase in the number of investors who are hesitant about buying at high levels and the increase in those who expect a deeper correction for purchasing, the price has increased. Up to 60-65 thousand dollars He said he could go back:
New historical highs are a trigger for selling. Some players are taking profits, which raises the question of whether there will be enough warm buyers at current levels or whether the majority will prefer to wait for a deeper correction. In a corrective scenario, the $60,000-65,500 areas are of particular interest as they contain important round levels (important for the individual) and the 76.4% and 61.8% Fibonacci retracement lines.