The crypto market shows signs of recovery and the prices of the main cryptocurrencies rebounded slightly.
For example, digital assets like Ethereum (ETH), Binance Coin (BNB) and Solana (SOL) they gained ground again, with increases of around 3%.
Nevertheless, the price of Bitcoin (BTC), the most valuable cryptocurrency in the entire ecosystem, has not yet recovered what it lost and is still down 7%. Today, its price is around US $ 56,500.
Another cryptocurrency that keeps falling is Cardano, better known by its acronym ADA. This week, investors lost 10% and it is trading at around $ 1.68.
According to analysis of the Tradingview platform, the fall of Bitcoin and the rest of the cryptocurrencies is normal and there is nothing to worry about.
Although this sudden decline flooded the market with “fear” – according to the index of fear and greed that marks the temperament and emotions of cryptocurrency buyers -, Investors see this as a good opportunity to buy and accumulate digital assets and take advantage of a future rally.
What will happen to the price of Bitcoin?
Experts suggest that Bitcoin will hit $ 300,000 and they base this information on a technical analysis of the Fibonacci levels.
“Bitcoin’s three full cycles saw a ‘mid-cycle’ rebound at 1,272. After 2013 it faced resistance at 1.55. In 2017 it faced resistance at 1.618. And in 2021 it faced resistance at both. After this is historically when the mania begins “explains TechDev, a crypto investor via Twitter.
To touch this new all-time high, the cryptocurrency will have to break $ 60,000 again and keep its price above that mark.