At the moment, Bitcoin looks ready for the end of the correction, however, before the recovery, the price of the cryptocurrency is capable of falling to $ 49 thousand. Such an opinion expressed trader Michael van de Poppe. According to him, there is strong support at the level of $ 49 thousand, which has already helped bitcoin recover in the spring of this year. Writes about this RBC Crypto.
I still assume something like this will be happening on $ BTC.
It’s close to the end of the correction, but will probably wash out a few more peeps.#Altcoins to drop some more and accelerate from January onwards.
Going to be fun. pic.twitter.com/wUQKlWPo4T
— Michaël van de Poppe (@CryptoMichNL) November 28, 2021
Van de Poppe also admits that another wave of decline will occur in the altcoin market before the tokens return to growth. An active recovery of alternative coins should be expected in January next year, the analyst said.
On November 30, Bitcoin is trading at $ 56.9 thousand. On November 28, the value of bitcoin for the first time since the beginning of October fell to $ 53.2 thousand.
Stay in touch! Subscribe to World Stock Market in Telegram.