The post Bitcoin Price to Drop Before Takeoff? Experts Predict Correction to $50K appeared first on Coinpedia Fintech News
Bitcoin had a stellar February, surging by a whopping 45%, its most significant jump since December 2020. This surge, now marking the sixth straight month of gains, has experts buzzing about a potential crypto bull run. However, not everyone shares this bullish sentiment, with some analysts predicting a short-term correction before a big upward move.
Let’s dive into what experts are saying about Bitcoin’s near future.
Mixed Predictions: Expert Insights Unveiled
Galaxy Digital founder, Michael Novogratz, weighed in during a recent Bloomberg TV interview. Novogratz suggested that Bitcoin might pull back before hitting new highs, potentially retracing to around $55,000. His reasoning revolves around retail traders becoming overly leveraged before the anticipated climb.
On another note, he expressed expectations for an Ethereum spot ETF to secure SEC
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