On Sunday (December 27), according to data from TradingView, the Bitcoin price fell on Coinbase from a high of $28,345 (at 11:17 UTC) to a low of $25,772 (at 21:21 UTC), a fall of $2,573 in just 10 hours. One prominent crypto analyst calls this correction “healthy.”
Crypto analyst/trader Michaël van de Popp said yesterday (December 27) that Bitcoin is “undergoing a very healthy correction.”
Tyler Winklevoss, Co-Founder and CEO of digital asset exchange Gemini, would not be surprised if the Bitcoin price reaches $30,000 by the end of the year seeing as how the Bitcoin price seems to be breaking new all-time highs with ease at the moment.
Samson Mow, the CEO of Pixelmatic, a Shanghai-based video game development firm, and the Chief Strategy Officer (CSO) of Blockstream, believes that you are getting a bargain if you manage to buy Bitcoin at any price below $30,000.
Van De Poppe correctly pointed out on December 26 that “the retail hype is not even close to the previous all-time high at $19,700 in 2017.”
However, it is worth noting that, according to The TIE, during this past weekend, there were more Bitcoin-related tweets than any previous weekend ever.
Featured Image by “SnapLaunch” via Pixabay.com
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
