The post Bitcoin Plummets Below $59K: Experts Predict Bullish Rebound Ahead appeared first on Coinpedia Fintech News
Bitcoin investors are worried as the cryptocurrency dropped below $59,000, hitting a low of $58,601.70 after peaking at $61,790 in the last 24 hours. This 4.5% drop shows more bearish activity, with Bitcoin’s Fear Index reaching 30, indicating investors are more concerned.
Bitcoin Experiences Major Correction
In this cycle, Bitcoin has undergone another notable correction, marking its sixth significant drop. This recent decline was one of the fastest and sharpest yet, which lasted for 17 days dropping by almost 20%.
#Bitcoin Has now made its 6th ~20% correction this cycle.
This was one of the fastest and sharpest corrections this cycle, only taking 17 days from top to bottom.
The other two corrections that were of similar duration are marked on the chart. pic.twitter.com/4RPc2MtAV5
— Daan Crypto Trades (@DaanCrypto) June 25, 2024
Prominent crypto t
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