Bitcoin

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The post <a href="https://coinpedia.org/uncategorized/whats-next-for-bitcoin-price-after-dropping-nearly-10/">What’s Next for Bitcoin Price After Dropping Nearly 10%?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
Bitcoin Price reached a new high of $69,202, surpassing the previous record of $68,999.99 set in November 2021. Investors’ interest has grown after the Securities and Exchange Commission launched 11 spot bitcoin ETFs in late January. 
However, the BTC price subsequently dropped about 10% to $62,400. 
<h2 class="wp-block-heading" id="h-what-next-for-btc-price">What Next For BTC Price?</h2> 
<a href="https://www.youtube.com/watch?v=ZhlobdmUeDk">Popular crypto expert Crypto Rover</a> shared why Bitcoin’s price keeps going up. 
<blockquote class="wp-block-quote"> 
 Crypto Rover said, “Bitcoin’s price is rising a lot, and I know why.” 
</blockquote> 
He explained that when Bitcoin’s price drops slightly, it’s an excellent chance to buy more. He compared it to a sale in a store, saying it’s an excellent time to get more Bitcoin when the price drops a little. 
Crypto Rover talked about big companies like BlackRock buying a lot of Bitcoin. He explained that when big companies buy so much, it increases the price of Bitcoin because there’s less available for everyone else. 
He suggested a scenario where we might follow a pattern similar to the previous cycle: consolidating for about four weeks around the all-time high, then breaking through it. Alternatively, once we see a clear continuation above the all-time high, he anticipates hitting the first target, corresponding to the 1.618 level in the Fibonacci sequence.&nbsp; 
This level, currently around $100,000 on the weekly timeframe, may sound ambitious. Still, he explained how quickly things can escalate when institutions start feeling the fear of missing out (FOMO) and jump into buying Bitcoin. 
Overall, he said he’s still optimistic about Bitcoin’s future. He believes it could reach $100,000 or even $176,000.

What’s Next for Bitcoin Price After Dropping Nearly 10%?

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