Bitcoin's $66.9K stability sparks mixed opinions on future corrections
Crypto traders remain divided on Bitcoin's future trajectory, with some asserting a major correction has already occurred and others emphasising long-term trends and growth potential
Bitcoin's price has remained resilient, hovering around $66,900, sparking lively debates among cryptocurrency analysts regarding the likelihood of a significant correction. Despite concerns about a potential "deep correction," opinions vary within the crypto community.
Analysts such as Rekt Capital have pointed out that a significant correction has already taken place, indicating the potential proximity of a market bottom. He also highlighted that a significant correction has already occurred, with Bitcoin's price dropping by 15 percent from $66,421 on April 24 to $56,792 on May 2.
We’ve had a deep correction, we’ve had a long correction, and when you have a mix of both, the bottom is always very close,” Rekt stated in a recent post on X.
However, by May 6, Bitcoin’s price rebounded above the critical support level of $65,146, which some traders see as typical during bull runs. Crypto commentator Starbust remarked in a May 18 post, “Normal corrections in Bitcoin bull runs are usually nukes that are sharp and quick with a quick bounce back. this is not a normal correction. Not even close with the way this play action is.”
Last Updated :
May 20, 24 10:35:37 AM IST