Bitcoin will still continue to fall according to analysts who affirm it. $BTC 🛑

As the hours go by, Bitcoin's fall becomes increasingly pronounced. Its price went from 64,000 to 60,000 USD last week, then made a stop at 57,000 and sank to 54,000 USD this Friday.

It is currently registering a 3% drop in the last 24 hours to trade at $55,700. That is, the price recovers slightly, according to CoinMaketCap.

The motives? There are two main ones: Firstly, the German government is selling a large amount of BTC and secondly, the return of tokens to customers affected by the bankruptcy of the Mt. Gox exchange has already begun.

How far could Bitcoin collapse?

Renowned crypto analyst Ali Martínez stated that the BTC decline is far from over. According to the expert, the leading cryptocurrency lacks a solid support level.

As a result of this, Martínez predicts that Bitcoin could sink to approximately $47,000. In any case, he also clarified that it is possible to see a rebound.

For the rebound to materialize strongly and BTC to return to the bullish path, the asset must remain above $61,000, something that seems unlikely in this context.

The data indicates that investors are buying the dip, especially whales. Furthermore, other analysts have commented that the correction is only momentary.

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