The price of bitcoin soared past $40,000, but there was no further upward movement. It is currently trading below $39,000, reversing recent gains. BTC has lost 3% in a day and more than 3% in the last week.
Similarly, the majority of prominent cryptocurrencies are reducing their gains. After failing to break through the $3,000 resistance, ETH fell sharply.
XRP has dropped over 5% and is approaching the $0.60 support level. The key $0.805 support zone was tested by ADA.
Here is the Next Downside Target for BTC Price ?
Peter Brandt, a trader and analyst, has projected a decline in Bitcoin, Ethereum, and most other altcoins, equating it to the 2018 crash. Analysts have set a $27,000 downside objective after noticing a bearish structure similar to that seen in 2018.
Bitcoin, along with other popular cryptocurrencies such as Ethereum, Cardano, XRP, Solana, Dogecoin, and BNB, has experienced a price correction.
This could be more than a market correction, according to famed investor and trader Peter Brandt.
Бул жазуу пайдалуу болдубу?
Source: https://coinpedia.org/altcoin/bitcoin-and-altcoins-on-the-verge-of-another-massive-correction-heres-when/