Experts warned once more about Bitcoin
The market’s leading cryptocurrency Bitcoin (BTC) succeeded in moving its price to more than $ 5.700 on Friday (May 3rd ) . Our news on the subject of this connection are available. According to the data at the time of this news, BTC is trading above $ 5,800. While prices were so high, some experts in the community warned users about certain issues. According to these experts, the price may be retreat.
Bitcoin Fast Rises
After the upward trend that started in April, the price of Bitcoin increased rapidly. Experts pointed out this increase in the bull market may not have come yet and claims that the price correction may occur. Some say the bull market has already begun, and BTC will never return to the prices at these levels. Although it is difficult to decide which group to listen to, it is useful to follow the views discussed in the community. As Bitcoout team, we bring together such developments with our valuable readers on a regular basis.
Magic Poop Cannon, a market analyst at Twitter, argues that the price has risen quite quickly, pointing to a number of indicators on the price of Bitcoin and reports a decline in BTC. According to the analyst, the size of the decline can be 10% .
In terms of technical indicators , a large number of experts assessing the price of the Bitcoin also agree with the view expressed by Magic. According to experts in this group, most of the important technical indicators indicate that Bitcoin has been purchased in excess. In other words, these indicators may be signaling that Bitcoin can make a correction movement in a short time . Users can take advantage of the fact that they act by considering this fact. On the other hand, there are those who argue that the prices will increase in a short period of time.