“Bitcoin (BTC) fell to its lowest level since February, but Blockstream founder Adam Back believes this is a “normal bull market pattern.” He urges traders to buy dips rather than panic. 😬
The panic is caused by the liquidation of Bitcoin by the German government and expectations that creditors of Mt. Gox also monetizes its payouts.
Crypto liquidations reached more than $665 million in the last 24 hours, the highest level in two months, according to CoinGlass.
Analysts expect continued sales and a fall in Bitcoin to $50,000.
However, a sharp drop in the price of Bitcoin is likely to attract buying from long-term investors.
It is important to monitor critical support levels for Bitcoin and altcoins.
You can find a detailed analysis of prices for Bitcoin, Ether, BNB, Solana, XRP, Dogecoin, Toncoin, Cardano, Avalanche and Shiba Inu in our review."