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.
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.