June 16 (Cointime) - A crypto analyst with a large following is cautioning Bitcoin traders that the cryptocurrency may experience further declines before rebounding. The analyst, Michaël van de Poppe, tweeted that BTC's lows were being "swept" as it approached the $25,000 mark, and warned that if it fails to stay above $24,500, it could drop to $23,000.
Van de Poppe also noted that the total market capitalization for all cryptocurrencies in circulation is currently unable to remain above its 200-week moving average of $1.05 trillion, which could lead to further declines. At the time of writing, BTC was trading at $24,937.
All Comments