Bitcoin has had a phenomenal start to 2024, recording new all-time highs and exceeding the expectations of investors around the world.
But the price run has slowed significantly, and Bitcoin is down over 10% in the past week, dipping below the $63,000 level. What does this mean for Bitcoin going forward? Take a look.
For starters, many analysts believe that Bitcoin was due for a slight reversal. For example, Anthony Scaramucci, founder of SkyBridge Capital, said the last time Bitcoin hit all-time highs in 2021, “You had Bitcoin correct 10% or more 13 times … from $3,800 to $69,000.” This could be a case of a slight pullback before Bitcoin reaches new highs again.
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Additionally, Robert Kiyosaki, author of “Rich Dad Poor Dad,” said, “All market crashes are, are assets going on and ‘sale’ is my favorite four-letter word.” While this drop in the price of Bitcoin may not…
