Analyst’s Comforting Bitcoin Explained: No Big Drop

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Bitcoin, which reached the level of $ 17,000 yesterday, broke a new record today and saw the $ 18,000 level again in the morning. Bitcoin is trading at $ 17,875 at the time of publication and has a market value of $ 331 billion.

With this new level, there has been great interest in both the mainstream and the cryptocurrency world. While some billionaires and famous investors announced that they own Bitcoin, some famous names expressed their interest in Bitcoin.

Following this sharp rise in Bitcoin, some crypto analysts warned of correction and sharp decline. One of them, an anonymous TradingView analyst, stated that Bitcoin could drop to $ 13,000. In his analysis, the analyst drew attention to the MACD indicator, the price-volume difference, and the reverse head and shoulder formulation.

Some crypto analysts said that they do not expect a huge drop in Bitcoin yet. Bozok6, one of these analysts, shared the comment that there will not be a big decrease in Bitcoin for now, it will not decrease as it rises with its followers on Twitter.

Emphasizing that Bitcoin is doing what it should do at the level of 18,500, the analyst said that there is a correction towards the $ 17,200 level and that it is very positive that it reacts up from this point. Bozok6 also pointed out that the $ 20,000 – $ 25,000 level that it expects to happen is short.

The popular analyst stated in his previous tweets that Bitcoin will be positioned at a level between $ 20,000 and $ 25,000 by the end of the year.

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