Bitcoin’s price corrected over the past few days after reaching an all-time high well above the $60K mark. Now, a cryptocurrency analytics provider believes that it will probably take some time for it to get back up.
Bitcoin’s Most Recent Correction
After reaching an all-time high at $61,781 (on Bitstamp), Bitcoin’s price has started to retrace as it goes through a correction.
It started a couple of days back. As CryptoPotato reported then, over $2.2 billion, long positions were liquidated in less than 24 hours as BTC slipped below $55,000. It has since attempted a recovery but has so far failed, and it continues to trade around that mark at the time of this writing.
BTC/USD. Source: TradingView
According to JP Morgan analysts, the most recent surge above $60K wasn’t caused by institutions but rather by retail investors, which might also be part of the reasons for which it’s rather unsustainable.
In any case, the following areas of resistance, should the price starts pickin
Źródło: https://cryptopotato.com/analysis-bitcoins-next-leg-up-will-probably-take-some-time/
