A correction continues for Bitcoin during Friday, but it may not be over yet, and analysts are far from worried.
Bitcoin (BTC) dipped below $64,000 on Nov. 12 as its comedown from new all-time highs continued to unnerve.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewBTC: Consolidation becomes down moveData from Cointelegraph Markets Pro and TradingView captured fluid market conditions on Friday, with BTC/USD acting in a $2,000 range.The pair had spent the previous day tracing sideways — behavior that was now showing signs of breaking down.For popular analysts, however, such BTC price action was not only expected but welcomed.Sideways :)— Willy Woo (@woonomic) November 12, 2021
“A drop to 59-61k followed by some consolidation would be the best way to continue the bull-run in my opinion,” Twitter trader Galaxy added. “Might not happen but it would be extremely healthy for both $BTC and alts. Be prepar