Bitcoin falling to the $50,000 level is being seen as the “last significant accumulation zone” before any sustained recovery, says LVRG Research director Nick Ruck.
Several crypto analysts said there will be a final flush that sends Bitcoin prices as low as $50,000 before the cryptocurrency can mount a measurable recovery.
Bitcoin (BTC) trader and author Ivan Liljeqvist posted to X on Tuesday that Bitcoin is yet to have “the big flush.”
“I don’t think we’ve had it yet, I don’t think $60,000 was the bottom,” he added. “Trend is still down.”
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