The post Bitcoin Price Prediction: A Major Drop or a Massive Reversal? Here’s What Experts Say! appeared first on Coinpedia Fintech News
In the last 7 days, Bitcoin has dropped by at least 5.8%. At the beginning of the month, it was nearly $58,964.54, but now it stands at a low of $56,124. Many investors are wondering if it will plunge further. According to a recent Bitcoin price prediction from a cryptocurrency expert, there is a possibility of further decline. However, the expert also suggests that a market reversal could be on the horizon, offering hope to investors. Let’s dive in!
Bitcoin’s Recent Fall
Bitcoin has recently suffered a sharp decline. In a post, shared in X, Van de Poppe stated that Bitcoin recently took out liquidity below a key support level. In the same post, he shared his prediction that the market would drop further.
Key Bitcoin Reversal Point to Watch
The analyst suggested that the present downward momentum would push the Bitcoin market to a level of $54.3k. Poppe highlighted the level as a key reversal point to keep an eye on.
Bitcoin Upward Target
The analyst also predicted that if the market experiences a reversal at the said level, it could be driven to a high of $57.3K by that momentum.
In conclusion, while Bitcoin continues to struggle, a reversal may be on the horizon. It is important for Bitcoin investors to closely watch the predicted reversal point of $54.3K.
Read Also: Whales Are Buying This Dip! Expert Says Stack Altcoins When Bitcoin Hits $60k
Source: https://coinpedia.org/news/bitcoin-price-prediction-a-major-drop-or-a-massive-reversal-heres-what-experts-say/