The consolidation between $ 90,000 and $ 100,000 for Bitcoin (BTC) continues to play with the feeling of investors, from greed.
On Monday, Bitcoin fell below $ 90,000, while it is more than $ 96,500 on Tuesday, more than 8%. Bitcoin Bull Tom Lee, Studies Manager of Fundstrat, told CNBC on Monday that he sees this correction in Bitcoin as usual.
“Bitcoin has dropped 15% at its heights for a volatile asset, which is a general correction,” he said.
Glassnode’s knowledge shows that Bitcoin in this existing cycle has experienced soft impressions of around 15% to 20%, much smaller than Haussier market samples, which have experienced up to 30% to 50% titles, demonstrating that the asset becomes increasingly mature.
According to Lee, $ 70,000 is a line in the sand, which is a higher support point. They refer to a method called Fibonacci degrees, or periods of setback, necessarily where Bitcoin fell from the position where his rally began. Read also estimates that the $ 50,000 point can be tested if the past degrees of $ 70,000 are not maintained. Non -unusual fibonacci degrees of all the upper time for which analysts are 23. 6%, 38. 2%, 50%and 61. 8%
Despite a short -term correction, Lee still thinks that Bitcoin will be one of the assets out of competition by 2025 and remains positive about the end of the year from $ 200,000 to $ 250,000.