Bitcoin, the number one cryptocurrency depending on the market value, facing market disturbances, but prominent rolling encryption is still not prepared.
It argues that BTC’s association with traditional stocks is exaggerated, and confirms that the course of the long -term origin is still intact.
Bitcoin’s association with stocks: excessive fears?
The recent decline in Bitcoin, decreased to less than 80,000 dollars, sparked a discussion about his relationships with traditional financial markets. Some analysts fear that the weaknesses in the stocks can leak into encryption. However, Credbull Crypto is from opinion The S&P 500 correction is the regular market movement rather than a sign of a deeper problem.
The trader wrote on X. “The correction we have seen so far, for all intentions and purposes, is considered healthy/natural based on my regime.”
He highlighted that historically, BTC moved independently, even in times of total economic uncertainty. While the prevailing financing experts see the risks, Credibull sees the current decrease as an opportunity for the patient’s investors. The “cooked” charts offer the most profitable opportunities, “is AssureRefuse concerns about the economic slowdown on the horizon.
The investor advised, along with more than 465,000 followers on X, traders focusing on Bitcoin’s technical levels instead of the stock market trends. According to him, the original cryptocurrency is a base between the main resistance areas and support, which leads to the belief that keeping the current levels will be an indication.
However, market analysts such as Peter Brandt and Bitmex co -founder ARTHUR Hayes pointed out a possible decrease to less than $ 80,000 for BTC. Note a double pattern, warning that the cryptocurrency needs to restore 90,000 dollars to reflect the declining feeling. For his part, Hayes sees a possible re -test of $ 78,000, with $ 75,000 as the next negative goal if the original continues.
Market feeling
Although the currency is still 18.6 % in 12 months, its current price is 25 % lower than its high level ever of $ 108,786 registered earlier in the year.
Despite the withdrawal, long -term feelings improved. Although the index of fear and greed has turned from 92 a year ago, which indicates “extreme greed”, to its lowest level, which indicates “extreme fear”, bitcoin price is still almost 20 % higher than it was at that time.
Currently, investors are urged to stay patient and have a strategy for each of the turbine and filtered turns. “The key is to have a plan for any of the result, so you cannot lower literally,” is Credbull’s advice.
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