April 21, 2024

Bitcoin will need several months to restore the exchange rate, analyst at Fundstrat

Bitcoin will need several months to restore the exchange rate, analyst at Fundstrat

According to the forecast of Rob Sluimer, a researcher at Fundstrat Global Advisors, Bitcoin will need months of consolidation to correct the technical damage already caused by the collapse.

An analyst told Bloomberg thatThe collapse of cryptocurrencies over the past week reflected a general panic in markets across all asset classes, including gold and bonds. However, Bitcoin made lower lows and lower highs during the swings, leaving its long-term prospects more vulnerable.

At the same time, Rob Sluimer notes that the MTC schedule is stillremains above the 200-week moving averageaverage, which, in his opinion, is the main indicator of long-term support for most assets, which previously worked for the leading cryptocurrency. Adding that after reaching the bottom, Bitcoin will take months to regain lost ground.

At the time of publication, the BTC rate is $6,552 and over the past 24 hours it has increased by 13%.

Bitcoin will need several months to restore the exchange rate, analyst at Fundstrat

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