Bitcoin price climbed to $67,400 in the last 24 hours and is above $67,000 at the time of writing. This BTC surge, which is promising for altcoins, still has not 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 leading cryptocurrency continues to close above the crucial 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 decline, a significant portion hopes to see new peaks in the middle of the upward trend.
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 significant drop. The weakened risk appetite at the end of March caused Bitcoin to linger below the $58,000 level for a while.
“We experienced a deep correction, 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 stated:
“In Bitcoin bull runs, normal corrections are usually bursts that result in sharp and quick reversals.”
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 entered the “entering belief” phase. In this phase, investors may act boldly for more gains.
Of course, historical data cannot always be expected to repeat in the future. However, this often happens many times. Accordingly, BTC could achieve significant gains until mid-2025.
