Bitcoin (BTC) price is on a downtrend as the broader digital currency ecosystem has taken a dramatic and bearish turn. Bitcoin is down 5.09% at the time of writing, a slump that comes despite the obvious bullish fundamentals that surround the market at this time.
Bitcoin (BTC) Price Slump: Opportunity in Disguise
Bitcoin is fast losing its gains with price pegged at $35,774.80, breaching the $36,000 support zone for the second time this week. Despite the negative impact this current price slump is poised to cause, this speedy downward spiral in Bitcoin (BTC) price is considered room to accumulate according to top market analyst, CrediBULL Crypto.
Based on his previous analyses, CrediBULL Crypto has always projected an imminent retest of the local bottom at the $34,600 level. While the downward spiral has not touched this level yet, the underlying thesis behind the forecast has been validated with the current outlook.
According to the analyst, most of the profit-taking is systemic an
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