Bitcoin Correction by 13% – Experts Say This About “For Everyone” BTC
Bitcoin’s 13% Correction - Experts Say This About Bitcoin’s Recent Correction
Journalist
- Bitcoin’s recent corrections have raised a number of questions about this cryptocurrency
- Michael Saylor, Peter Schiff and Peter Brandt all had their say
Bitcoin has been available since the beginning of the week. [BTC] The stock’s value has fallen by more than 13% – a sign that the recent upward trend is about to correct.
Prices plummeted from $62,900 to $62,900 in just two weeks, marking their lowest level ever.
Market participants were worried and uncertain after the price of the top cryptocurrency fell almost double digits. Many wondered whether the recent unbridled growth was coming to an end.
Peter Brandt, an experienced trader, shared his insights on Bitcoin price action and a broader view of market sentiment. He noted:
This correction is healthy. BTC is in a strong uptrend.
The prominent Binance trader added:
If prices go up and the chain/perpetrators move, people won’t need slots anymore. You can easily long the memecoin of the day with leverage as it plays down the currency’s downturns.
Positive Bitcoin discussion is the main story on @SquawkCNBC on days when Bitcoin surges overnight.
He elaborated:
Bitcoin was not mentioned throughout the hour Bitcoin fell 6% overnight.
The Economist noted that CNBC did not mention Bitcoin in the three hours of coverage. He said CNBC’s silence gives Bitcoin whales the opportunity to quietly offload their assets.
It’s been three hours since @CNBC started market coverage and they haven’t mentioned #Bitcoin once. The Bitcoin EFTs they pumped are now down 6% and $MSTR is down 16%.
Michael Saylor is a Bitcoin maximalist who, on the contrary, has been highlighted according to Schiff.
Bitcoin is for everyone.
What will Bitcoin bring: boom or curse?
Willy Woo, a Bitcoin analyst, says that given the rapid rise of the Bitcoin macro index, he would not be surprised to see a peak in mid-2024. This could signal a similar double pump cycle to 2013 with a second peak expected in 2025.
