Kamile U, one of the leading analysts in the cryptocurrency world, drew attention to the regions that can work as support in the leading cryptocurrency. Showing the levels that should be followed to the crypto money community on the chart, the analyst expressed the view that the pair will remain in the rising trend unless it closes under the rising trend.
How Analysts Evaluate the Bitcoin Price
Siesta Laila, one of the crypto money analysts, made a statement about Bitcoin on the agenda of the cryptocurrency community. The popular analyst stated on his social media account the main level that the leading cryptocurrency must maintain in order to continue its rise. In addition, Crypto General, on the other hand, announced that he is not expecting a huge correction and his predictions about the level at which the correction will begin.
Deep Blue, which evaluates the data from Crypto Money exchanges and explains its analysis with a chart, also came to the agenda of the crypto money community. He underlines that if the four-hour candlestick closes below the desired level, a significant correction may be seen in the bitcoin price.
Analyst Peter Brandt, one of the most respected names in the cryptocurrency world, also comments on the BTC daily chart and reminds him of the expectation for a correction. The leader reiterated that the cryptocurrency may encounter significant corrections from time to time in its target of 200 thousand dollars.
The popular analyst says he will gladly buy every 20% corrections that can be seen in the BTC price and find it positive. Some of the cryptocurrency experts emphasized that the Bitcoin price could rise to high levels in a short time while evaluating the decline. Some analysts stated that the decline could continue and there were signs of entry into the bear market.
$ 1 billion evaporated after the fall in the crypto money market
Although this decline in the price of Bitcoin (BTC) and other cryptocurrencies created a cold shower effect in the market, it was seen that there was 600 million dollars of liquidity after the loss of 10 thousand dollars in the BTC price.
In the crypto money market, the crypto money liquidation in the last 24 hours has exceeded $ 1 billion.
It does not go unnoticed that Bitcoin, the leading cryptocurrency, accounts for almost $ 600 million of positions liquidated from the market. Approximately $ 295 million of the $ 600 million liquidation of BTC occurred with today's decline. These liquidations in the bitcoin price should be considered as the most important factor that triggers more sales in the cryptocurrency market.
Will the Decline in Bitcoin Price Continue?
While the leading crypto currency started the week with a downward trend, many retail investors panic, while there was a loss of $ 600 million in the Bitcoin market, and the bill of losses in the total crypto money market exceeded $ 1 billion. It is also seen that these developments increase the selling pressure on many institutional investors, especially retail investors.
The Bitcoin market has experienced a decline of close to 14 percent in one day. The weekly earnings rate of the leading cryptocurrency has dropped below 10 percent. Bitcoin had reached an all-time high in recent weeks and made a new ATH, but experts in the cryptocurrency world, who interpreted the price of the leading crypto currency, said that bearish signals on the BTC chart could continue.
What is Possibility of Intent in Crash of Stock Markets?
The collapse of cryptocurrency exchanges when they lose their value, of course, also created the possibility of manipulation problems. Following the big dips, the occurrence of these collapses is subject to massive criticism from Investors.
Exchanges even say there is a mistake on the site by blocking access to the stock markets during times of big drops. However, the opposite may be the case. While users are rushing to convert their addresses to fiat in order to avoid further damage, some exchanges are preventing this. We can say that BTCTurk and Paribu have done this in the last two days. It is almost impossible to reach the stock markets.
With the decline in BTC, many users want to convert their money, but they have not been able to do so. For this reason, Investors suffer great losses on the expedition. It is stated that this situation has become a classic, and that great penalties may be imposed on crypto money exchanges.
