The slowdown in Bitcoin price today has become a worry for almost the entire crypto space. On the other hand, it seems that experiencing a slight bounce and then returning to the price levels before the bounce has become the new trend of BTC. Despite the corrections, the price may remain strong at the underlyings, according to market experts.
Analyst: Bitcoin will not drop to $20,000
However, in the midst of a downtrend, the price may hold strongly above the mainstays. According to K A L E O, a well-known analyst, estimates of $20,000 will never come to fruition. Thus, the analyst stated that the price may not fall to these levels again.
Positive market sentiment stands out in BTC price
Positive market sentiments could fuel the upcoming bull run, according to crypto journalist Sahana Vibhute. Another optimism for BTC price is the sudden drop in difficulty setting. Cryptocoin. com
As we previously reported , the downward adjustment is at an all-time high of 42%, as miners in China cease operations and relocate. 27% out of 6. reduced to 94. Overall, many analysts and crypto influencers are emphasizing that profits may not be made before the end of 2021. Still, it is believed that the price will break $100,000 in the long run. The cryptocurrency, which ranks first in terms of market value, is trading at $33,682 at the time of writing.
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