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Bitcoin Hits $57K: Analyst "Will plummet Go Deeper?" Announced! - Coin Newsletter
Bitcoin faces the risk of a bigger pullback as it falls sharply to $58K.
Bitcoin fell to $57,000 today with the low volume of spot ETF that started in Hong Kong and the decrease in demand for spot Bitcoin ETF from the USA. Bitcoin is trading 20% lower than its all-time high of $73,000 (ATH) in March.
With yesterday's decline, Bitcoin and cryptocurrencies experienced their worst monthly decline since November 2022, when FTX, one of the largest cryptocurrency exchanges, collapsed.
According to CoinDesk, John Glover, an analyst at crypto lending firm Ledn, said that he expects a sell-off for Bitcoin to $50,000 in the medium term. It was also among the analyst's words that this decline could be an opportunity for acquisition.
The arrival of 50 thousand dollars in Bitcoin, which is currently at 57 thousand dollars**, means that the decline will deepen even more. Bitcoin **If it falls to $50K, it will have experienced another pullback of about 15%.
According to data from CoinGecko, Bitcoin is trading at $57,720 at the time of writing.