Key Takeaways
- Bitcoin to USD has seen a significant decrease to reach a value below $55k
- Analysts predicted that the coin value would eventually rise to a value as high as $58k
- Many Cryptocurrency experts are surprised by the lack of interest in the coin despite the price slide
Data obtained from Cointelegraph Market Pro and Trading view indicated that BTC/USD has been decreasing from its five months high value to hit a value below $54,000.
After increasing to about $55,000, BTC/USD value seems unsettled on Wednesday with no precise orientation in the short term.
Many analysts have different viewpoints concerning this decrease; some expressed that they remain unbothered by the coin’s recent movement.
They expect the coin to rise again to reach an all-time high value that is unlikely to reduce.
Many Analysts, however, are amazed by the move of this coin. $58,000 had been predicted as sharp resistance, which is improbable to drop, while a “buy the dip” chance is still available for people willing to buy the coin at $53,000 or a lower value.
Rekt Capital, a cryptocurrency expert and analyst, explained that he is not bothered by the BTC decrease.
He explained that bitcoin’s recent movement is probably a feature needed for the coin to get new support and progress toward attaining a new historical value.
In another viewpoint by the renowned trader, Pentoshi, he explained that the low value that the decrease would cause may be the last that bitcoin will ever experience before rising to its higher level.
According to Cointelegraph, despite reaching within 15% of its ATH, Bitcoin has kept a low profile.
The price decrease is expected to attract more people and invigorate people’s interest in virtual currency.
People prefer buying cryptocurrency when it is at a lower price to gain more profits. Still, this current price decrease was not visited by any interest by people.
Data from Google Trends also indicated an absence of interest in the coin in the Fourth quarter of the year compared to the beginning of the year.
While indicating clues of greed, Sentiment has not reached the value that traditionally makes up the local and macro price tops.
The CEO of Asset manager Capriole, Charles Edward, explained that the amazing thing about the decrease is the absence of interest in the coin.
With this movement in the BTC to USD value, and considering the prediction made by some of the analysts, do you agree that BTC may rise to reach the predicted $58k?
