The post Bitcoin Correction Brewing? Analyst Predicts $26.8K Price Target appeared first on Coinpedia Fintech News
Over the past 24 hours, Bitcoin took a significant hit, slipping under a crucial support level at $27,285. This tumble led to notable sell-offs, leaving many questioning the future of the cryptocurrency market. Despite Bitcoin’s market dominance, it’s currently in uncertain waters. To add to the unease, there’s the troubling “death cross” on the hourly chart, where the 50 and 200 Moving Averages (MA) hint at more price turbulence ahead.
Experts Speak
Well-known crypto strategist Michaël van de Poppe, from Amsterdam, Netherlands, offers insights into Bitcoin’s recent performance, describing it as weak and in need of a short-term correction. This correction is happening alongside some impactful events in the United States, further complicating the market.
The United States Bureau of Labor Statistics is set to release the Consumer Price Index (CPI) data, and the
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