Analysts say the cryptocurrency correction has hit investor sentiment, but there are still ample reasons to remain bullish on digital assets.
K33 analysts said the elimination of leverage has made the market “much healthier.”
LMAX Group strategists noted that Bitcoin’s halving could have a positive impact on prices as spot BTC ETFs would attract a wider audience.
Macro analyst Noel Acheson said that weak stock markets could weigh on crypto assets, but that any declines would be short-lived due to other factors.
Cryptocurrency markets took a beating over the weekend, with investor sentiment plummeting from the frenetic highs seen just a few weeks ago.
Bitcoin (BTC) fell below $62,000 on Tuesday, down more than 15% from its recent all-time high above $73,000, while popular altcoins Solana (SOL), Pepe Coin (PEPE), and Dogwifhat {{WIF}} have plunged 40%-50% from recent highs.
Despite the massive drop across the market, there are still many reasons to be bullish on digital assets even if prices fall further or trade sideways for a while.
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