Crypto Analysts Remain Confident Amid Bitcoin Price Dip

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A slight retreat in Bitcoin’s price within the last 24 hours prompts crypto analysts to inform their extensive followers that it’s a regular part of the market flow, urging them to stick to the long-term plan.

One analyst confidently asserts the ease of predicting the price pullback, while another anticipates new all-time highs in the coming six months.

Crypto Analysts Speculate, Remain Confident

On X (formerly Twitter), crypto analysts shared insights on Bitcoin’s recent price decline. Jelle, known to 54,500 followers, maintained confidence in the market despite the price dip.

“Riding my spot holdings higher, using the smol leveraged account to buy dips. Expecting new all-time highs by summer.”

At the time of publication, Bitcoin’s price stands at $40,805.

Bitcoin Price Chart 1 Month. Source: BeInCrypto

Meanwhile, Tyler Strejilevich informed his 89,000 followers that the price decline was clearly anticipated.

“This BTC pullback was so easy to predict even the permabears aren’t tweeting lower targets,” he declared.

Read more: How To Prepare for a Bitcoin ETF: A Step-by-Step Approach

The majority of crypto analysts are keeping a close eye on Bitcoin’s price and speculating around its movements in recent times. This is due to two major events coming up in the near future.

The first being, the US SEC’s decision to approve or deny a spot Bitcoin exchange-traded fund (ETF) is on January 10. Many analysts believe there is a potential for price movement in the future should this be approved.

The second, is the Bitcoin halving, in April 2024.

Meanwhile, BeInCrypto recently reported that the Bitcoin halving is also causing big crypto mining companies to start majorly speculating.

Major crypto mining companies have reportedly spent $747 million on facilities and equipment this month, ahead of the halving next year.

Read more: Everything You Need To Know About Bull Flag Patterns

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content.



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