It has been just revealed that the Bitcoin’s lows are taken in the latest dip. At the moment of writing this article, BTC is trading in the red, and the king coin is priced at $30,131.

Bitcoin price analysis

According to a respected crypto analyst, Bitcoin (BTC) is currently experiencing a slight decline, and is nearing its lowest point. The analyst, Michaël van de Poppe, has recommended that BTC needs to recover before experiencing further decline. Van de Poppe has a substantial Twitter following of 660,100 supporters.

“Lows are getting taken again.

Needs to flip back up here, otherwise $28,500 scenario seems likely for Bitcoin.

Markets expecting a rate hike due to positive unemployment data.”

According to Van de Poppe, traders who jumped on BTC recently due to fear of missing out (FOMO) are likely feeling the pain of an instant correction, predicting BTC could go sub-$30,000 again.

“Typical FOMO buyers getting hit in an instant correction and we’re back to the chop on Bitcoin.

More sideways action likely, maybe even sweeping to $29,900.”

Van de Poppe also stated the fact that BTC’s dip, which saw the top crypto by market cap fall from a 24-hour high of $31,480 to a 24-hour low of $30,070, a 4.5% decrease, is another one of BTC’s “low volatility movements.”

“Low volatility movements on Bitcoin are fun.”

Bulls are coming back to the markets

According to Real Vision founder Raoul Pal, he continues to hold a positive outlook on digital assets despite the bear market.

He has recently increased his investment in one of Ethereum’s (ETH) top competitors and shared a portfolio update during a Bankless interview. Pal, a former executive at Goldman Sachs, remains confident in his investment decisions.

“I don’t change it a lot. I’m very consistent in what I do. It’s still about 80% Solana, a small bit of Bitcoin, and a handful of other things that I bought just to feel the price. I don’t mention them on Twitter because then everyone destroys you and attacks you… Basically, it’s the same portfolio that I’ve had and I don’t really change it…”

Leave a Comment