- Bitcoin recovers over the weekend, climbing above $64,000 after last week’s slump.
- Despite this rise, individual investors are yet to make a significant entry into the market, according to crypto analyst Michael van de Poppe.
- Van de Poppe also notes the importance of Bitcoin staying above the $60,000 mark and highlights a potential correction range between $55,000 and $57,500.
Bitcoin rebounds over the weekend, but individual investors are yet to make a significant entry, says crypto analyst Michael van de Poppe. He also highlights potential correction levels.
Bitcoin Recovers, Climbs Above $64,000
Bitcoin showed signs of recovery over the weekend, climbing above the $64,000 mark. This rebound comes after last week’s slump, which saw the cryptocurrency’s value dip significantly. The recovery was influenced by the employment data released in the United States on Friday.
Individual Investors Yet to Enter the Market
Despite the rise in Bitcoin’s value, crypto analyst Michael van de Poppe believes that individual investors have not yet made a significant entry into the market. He thinks that the importance of Bitcoin staying above the $60,000 mark cannot be overstated. In the event of a potential correction, he advises investors to watch out for a range between $55,000 and $57,500. He made these remarks in a recent tweet.
Potential Correction Levels
In the event of a severe correction, van de Poppe believes that the price could fall to the $52,000 mark. He also noted that altcoins are slowly starting to wake up, indicating a possible shift in the crypto market.
Conclusion
In conclusion, while Bitcoin has shown signs of recovery, individual investors are yet to make a significant entry into the market. Crypto analyst Michael van de Poppe highlights the importance of Bitcoin staying above the $60,000 mark and points out potential correction levels. As the crypto market continues to evolve, investors should keep an eye on these developments.
