Bitcoin price has pulled back from highs set over the weekend, this could be the start of a more significant reset
Even with an ongoing bull trend and another round of stimulus money rolling out, Bitcoin price has pulled back from highs set over the weekend.
Bitcoin price peak is nigh, massive “reset” could be incoming
According to one crypto analyst, this could be the start of a more significant reset before it’s off to the races once again for the scarce digital currency. By all definitions of the term, Bitcoin is in an uptrend and the greater cryptocurrency market with it. The nascent technology is being adopted by institutions and investors at a rapidly expanding rate, all while the dollar itself is devalued due to inflation.
The environment has been the perfect storm for the cryptocurrency to thrive, given its hard-capped supply of only 21 million BTC. Even less are circulating and millions are lost or locked away forever.
While there’s no arguing that Bitcoin’s long-term value should bring it to prices of hundreds of thousands per coin, according to one crypto analyst, a great “reset” could be coming for the top cryptocurrency by market cap.
The analyst expects a fall back to the “zero-line” on the MACD | Source: TradingView
According to cryptocurrency analyst Dave the Wave, who has supplied accurate analysis to the community through his Twitter soapbox for years now, Bitcoin could be looking at a strong reset.
How long the reset takes, where it goes, and if it happens at all is only speculation and one theory of many that exist calling for higher prices. However, in the past, the analyst’s accuracy makes this contrarian take one that cannot be ignored.
You can see the BTC price here.
Read more:
- Prominent Bitcoiner Max Keiser: Bitcoin Price May Hit $220,000 If Fiat Continues Its Hyperinflation Collapse Against BTC
- Bitcoin Price Has Lost More Than $ 3,700 In The Last 24 Hours After A Bearish Trend Appeared And Spread Rapidly To Other Altcoins