As Bitcoin BTC/USD slipped below the $47,000 level on Sunday evening, here’s what four analysts and expert traders are saying about the largest cryptocurrency by market capitalization.
Amsterdam-based popular cryptocurrency analyst Michaël van de Poppe told his 546,000 followers on Twitter that he believes the two important levels for Bitcoin are $48,000 and $49,400 level, the latter of which caused the latest correction for the apex cryptocurrency.
He added that Ethereum ETH/USD is currently showing more strength than Bitcoin and a “clear confirmation” was that the cryptocurrency broke above the $4,100 level.
Cryptocurrency analyst Benjamin Cowen noted on his YouTube channel that Bitcoin closed another week below the bull mark support band and he doubted whether the apex cryptocurrency will have a “parabolic” first quarter.
“If we get that breakout to the upside and we can break above $53k, then full steam ahead,” Cowen added.
See Also: How To Buy Bitcoin (BTC)
Pentoshi, a closely-followed pseudonymous cryptocurrency trader with over 452,000 Twitter followers, said he will be "macro bearish" until Bitcoin reclaims the $58,000 to $60,000 range, but will be bullish at local areas.
Altcoin Sherpa, a pseudonymous cryptocurrency analyst who has over 162,000 followers on Twitter, said he believes Bitcoin has likely found a "relative bottom" and the apex cryptocurrency could see price action similar to summer 2021.
Price Action: Bitcoin is down 0.5% during the past 24 hours, trading at $46,917.39 at press time, while Ethereum is up 1.7% during the period to $3,805.94.
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