Bitcoin Falls Under $60k Price But Its Not An Issue For Market Experts.

Bitcoin Falls Under $60k Price But Its Not An Issue For Market Experts.

2021-11-17 | Selina Mathew

Bitcoin Falls Under $60k Price But Its Not An Issue For Market Experts.

Bitcoin (BTC) continued to fall on November 17th, with the price of the cryptocurrency returning to the $60,000 mark. BTC/USD plummeted 12% from Monday's high of more than $66,000, according to data. It is currently trading at $59,550 on Bitstamp but has been trading at a considerably lower level since November 6th. As prominent traders suffered, there was still hope that the "movement" of positions in the departure exchanges would be abolished, followed by the return of taking over. Bitcoin was also able to reduce the future CME gap in the area for more than a week, a long-awaited move since the gap first appeared. Although past disagreements have suggested even a trip to $59,000, at the time of writing, the possibilities of a downturn of less than $60,000 persist. When it comes to prospective purchase chances, trader Peter Brandt has stated that his favourite entry-level is close to $50,000. BTC

BTC/USD 1 Day Price Chart: Source- Tradingview.com

"I am interested in buying BTC at roughly $53,000 and ETH for around $4,030," he said in a tweet. He emphasized that he was "not a bear" and did not anticipate Bitcoin falling to those levels. Others, on the other hand, have delayed buying BTC in a month marked by persistent highs and corresponding volatility. Returning to monthly support, for example, would keep Bitcoin at $58,000. "If BTC tries to revise the (Green) Monthly level... It will have to move back to this black line of an uptrend," trader and analyst Rekt Capital said on a rate chart earlier on Monday. "Losing this route will almost certainly assure that this monthly review takes place." Until then, it's simply tightening."

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