March 31, 2023

BTC drops below $ 10,000, but correction will not be significant

BTC drops below $ 10,000, but correction will not be significant

Bitcoin at the end of last week came close to $ 10,500, but could not resist the resistance and started to retreat. On Monday, February 17, the BTC rate on the largest cryptocurrency exchanges dropped to $ 9735.

At the time of publication of this review, BTC capitalization was reduced to $ 178.326 billion. The price of bitcoin fell below support levels of $ 10,200 and $ 10,000.

However, in the camp of traders, many are confident thatthe correction will not lead to a more significant loss of BTC positions in the market. Now a trend is forming to strengthen support, so a return to the growth stage will occur in the very near future.

At the end of last week, a crypto trader under the nicknameGeorge tweeted that Bitcoin will test values ​​below $ 10,000. However, the same expert noted that the pullback will lead to consolidation, after which a new strengthening phase will begin.

Another CriptoBirb analyst believes that inin the near future, bitcoin needs to stay at least above the $ 9600 mark, as otherwise support will weaken even more, and this will provoke a rollback to new lows.

Almost all the largest altcoins todaytraded in the red. Air and XRP fell in price by almost 10% and 13% to $ 245 and $ 0.276, respectively. The largest losses from the top ten altcoins suffered Bitcoin Cash and Bitcoin SV, which fell by almost 17% to $ 379 and $ 265.