An expert from the information and analytical portal Thinking Crypto said that Bitcoin may stop falling below $100,000 due to the growing reserve of stablecoins and a decrease in the supply of cryptocurrency on exchanges.
Tony Edward explained that traders who made profits during the recent surge in the first cryptocurrency’s quotes are now waiting for the right moment to enter the exchange again:
According to the analyst, the bull cycle is far from over and investors do not expect the price of Bitcoin to fall below $90,000 in the short term. If digital gold can hold its position at the key support level of $99,000, this will mark the beginning of a rapid rally for the coin, and altcoins after it, the expert said.
Previously, macroeconomist Alex Krüger said that Bitcoin is now experiencing a “super cycle”, which is very different from previous multi-year cycles of the cryptocurrency market.
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Source: Cryptocurrency
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