In the afternoon of March 23, the bitcoin rate rose by almost $ 2.5 thousand in a few hours after it dropped to a two-week low of $ 53 thousand in the morning.At the moment, the price of the cryptocurrency reached $ 55.45 thousand, as of 19:45 Moscow time it is $ 55 , 6 thousand, writes RBC Crypto.
Despite the growth in the last hours, over the past day, quotations fell by almost 4%. This came as a surprise to many traders, as in 24 hours the number of liquidations of margin positions on crypto exchanges approached $ 1.7 billion.
Now the majority of market participants agree that a process of consolidation is taking place, not a trend reversal, noted Sergey Troshin, head of the Six Nines data center. This scenario is confirmed by an increase in trading volumes on a rebound in prices after falling to $ 53,000. This mark acted as a support level, and the correction was not as deep as it could have been if it fell below this level, Troshin explained.
Vitaly Kirpichev, Development Director of TradingView in Russia, disagreed with him. In his opinion, bitcoin remains in a correctional phase, which may continue to the level of $ 43 thousand. At this moment, a trend change may occur, the expert believes. However, for this, the news background remains “calm enough,” he stressed.
Bitcoin has long been on the verge of correction, and the reason for this will be the exit of institutional-level investors from the asset, if they start shifting into stocks and bonds in anticipation of their growth, added the head of the analytical department of AMarkets Artem Deev. According to him, this can happen with a general stabilization in the capital market.
“We are now on the verge of a strong market correction, as the world seems to be starting the third wave of the pandemic. If the increase in incidence after Europe begins in the United States, this will cause a decrease in indices and investors may, on the contrary, start buying bitcoin, “Deev said.
He explained that if in the coming days bitcoin stays near the $ 53 thousand mark and shows positive dynamics, then the time for correction has not come. However, it will definitely happen, as the market is overheated, the analyst warned.
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