Bitcoin falls after breaking the $30,000

·22/04/2023
·Laeti Marison (SatoshiBelle)

Crypto prices have largely declined this week as Bitcoin (BTC) lost more than 10% after flirting a few days with $30k. A technical correction, according to some analysts.

Indeed, Bitcoin fell below $28,000 on Friday evening, down 2.8% over 24 hours and over 10% over 7 days.

Despite the drop, many analysts remain optimistic about bitcoin’s long-term prospects. Some believe the currency could reach $100,000 in the coming years as more and more people become interested in the technology and its potential uses.

According to Will Tamplin, an analyst at Fairlead Strategies, Bitcoin experienced a “short-term loss of momentum” earlier this week, which gave way to a “correction phase.”

The only concern is whether the $30,000 rally was simply due to the Fed’s injection of liquidity after SVB failed, or whether it is the start of a new bull run for Bitcoin,” commented Matt Maley, chief strategist at Miller Tabak + Co, on Bloomberg.

Overall, while bitcoin’s recent drop below $30,000 is certainly significant, it’s important to keep in mind the broader context of the crypto market and the long-term potential of the technology.

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Article written by: Laeti Marison (SatoshiBelle)

Laeti Marison, also known as SatoshiBelle, is a multifaceted professional with a passion for community management, content creation, and digital marketing. With a diverse background in various roles, Laeti has consistently demonstrated her expertise and dedication in the field. Recognizing her potential, Laeti then took on the responsibilities of a Project and Community Manager at Magna Numeris and Cartam from November 2018 to March 2021. In this role, she showcased her ability to successfully lead projects and foster strong relationships within the community. Currently, Laeti serves as an SEO content writer, Digital Marketing Manager, and co-founder at Trendingcrypto.news magazine, starting from February 2022 till now. Through her expertise in digital marketing and her passion for the crypto industry, she has contributed to the success of the magazine, ensuring its content remains relevant, engaging, and informative.