Bitcoin plunges to $53,000 as analysts warn the worst is not over
Bitcoin could drop to $50,000, but a strong macro environment and a growing “buy the dip” mentality will quickly see its price rebound, analysts say.
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Bitcoin could drop to $50,000, but a strong macro environment and a growing “buy the dip” mentality will quickly see its price rebound, analysts say.
Cryptocurrencies may come up at Thursday’s presidential debate; Cowen said Biden may hint at a softer stance on cryptocurrencies.
Cryptocurrency market analysts believe that the decline in altcoins may be related to the recent large outflows from spot Bitcoin ETFs.
CoinMarketCap registered a record 138 meme coins in April.
Bitcoin’s recent slump could continue for a while, according to Katie Stockton, managing partner at Fairlead Strategies.
Analysts say the sideways movement in the Bitcoin dominance chart could be a reversal signal that could kick off the entire altcoin season.
QCP Capital says “the most important stock on earth” could disappoint as the PC market weakens and artificial intelligence saturates the market, with Wall Street looking for more gains from the GPU giant, pulling cryptocurrencies and stocks lower.
Analyst warns that Ethereum will likely continue to underperform Bitcoin (BTC) despite the growing hype
China's efforts to stabilize the yuan have potential downsides for Bitcoin, as the People's Bank of China's interventions may lead to global USD strength, impacting Bitcoin and other risky assets. Analysts suggest that China aims to maintain currency stability, potentially affecting Bitcoin's performance negatively.
Cryptocurrencies, including Bitcoin, Ethereum, and Dogecoin, faced a decline on Tuesday evening as the much-anticipated "Santa rally" failed to materialize, disappointing bullish expectations within the Bitcoin market.