According to ChainCatcher, according to Cointelegraph, eToro market analyst Josh Gilbert said in an interview that most of the sell-off can be attributed to concerns about the repayment of Mt. Gox creditors. Starting this month, about $8 billion worth of BTC will flow into the market, and the price trend of Bitcoin is expected to deteriorate further in the next few days. There are far more negative news than positive news at present, and the selling effect will continue. Prices will be relatively weak in the short term until a catalyst appears in the market to drive prices up.
In addition, Swyftx analyst Pav Hundal said that the worst may be yet to come for Bitcoin's price action. Bitcoin's huge rally is about to hit an already indifferent market. The long-term macro environment remains positive, but in the short term we may test $50,000 or even lower. Currently, $52,000 is a key battleground for bears and bulls.
