Bitcoin’s price volatility has once again made waves, with the BTC price briefly falling below $90,000 during the day before rising above $96,000 on Tuesday morning. While the ups and downs have made some investors nervous, market experts see price fluctuations as normal.
Analyst: “Declines Are Very Normal for Bitcoin”
The recent price action appears to reflect broader market uncertainty, likely due to upcoming political developments. Ethereum (ETH) mirrored Bitcoin’s moves by falling sharply before recovering.
James Toledano, an analyst at Unity Wallet, believes that the surge is nothing out of the ordinary.
“The current price action may seem alarming, but for those of us who have been in this space for a long time, this is simply business as usual. It does not signal the end of the bull run,” he explained.
Toledano pointed to President-elect Trump’s inauguration in just seven days as a potential turning point. Markets are betting that pro-crypto policy announcements could spark renewed buying interest. In addition, institutional accumulation continues to play a critical role and exchange reserves are steadily declining, suggesting strong demand despite low trading volumes.
John Glover of crypto lender Ledn echoed this sentiment, predicting a potential surge in Bitcoin’s price in the coming weeks.
“We could see Bitcoin move another 20-30% higher in the next few weeks, especially given that the $91,000 level looks like solid support,” Glover said.
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/is-it-true-that-bitcoins-bull-took-a-hit-after-yesterdays-setback-analyst-predicts-what-happens-next/