Bitcoin price climbed to $67,400 in the last 24 hours and at the time of writing, the price is above $67,000. This BTC rise, which is promising for altcoins, still hasn’t convinced some investors. Those worried about deeper corrections are looking at the latest market expert comments. So, what do the experts say?
Will Bitcoin Drop?
The king cryptocurrency continues to close above the important support level of $65,000. The price, which has remained below $67,000 for roughly 7 weeks, has caused significant losses in altcoins. So, what will happen next? While some experts expect a drop, a significant portion hopes to see new peaks in the middle of the uptrend.
Crypto commentator Yoddha wrote the following on this matter:
“Bitcoin price is holding so strong that I don’t think there will be a deep correction.”
Another famous crypto commentator, Rekt Capital, argues that the price, which fell by 15% from $66,421 to $56,790 on April 24, experienced a very large drop. By the end of March, the weakened risk appetite caused Bitcoin to linger below the $58,000 level for a while.
“We had a deep correction, we had a long correction, and when you have a mix of both, the bottom is always very close.”
Crypto Expert Comments
With Bitcoin closing above $67,000, the ETH price also reclaimed $3,100. SOL Coin is hovering around the $175 mark. Experts say that reclaiming the key support level and the recent move is a trend often seen in bull markets. Crypto analyst Starbust said:
“Normal corrections in Bitcoin bull runs are usually bursts that result in a sharp and quick reversal.”
The fourth crypto analyst Mags pointed to the well-known Wall Street Cheat Sheet’s “Psychology of a Market Cycle” chart and wrote that we have reached the “entering belief” stage. In this stage, investors may act boldly for more gains.
Of course, historical data cannot be expected to constantly repeat in the future. However, this often turns out to be true. Accordingly, BTC could achieve significant gains by mid-2025.
