Cryptocurrency research firm Delphi Digital said, “This correction seems to have to unwind investors’ portfolios in the short term, rather than change the structure of the uptrend.”
There is therefore a possibility that this correction will be short-lived. Moreover, it will create an even more attractive point for investors with long-term confidence.
Delphi Digital Says, that $56,000 Bitcoin is an ‘Attractive Point’
What will happen next with Bitcoin? It is likely that the price will fall to $55,000 if the selling pressure continues.
This is evidenced by the fact that the price of Bitcoin (BTC) fell to a brief low of $56,000 yesterday. This led to a sharp sell-off in other leading altcoins.
Bitcoin is currently at $56,317.80 and is down over 6% in the last 24 hours.
In addition, Ethereum’s price movement briefly fell below the $4,000 mark yesterday.
According to Delphi Digital, Ethereum is trying to turn a key resistance created in May into support. If successful, ETH will transition into an uptrend in the next round.
Ethereum is currently trading at $4,077 and is down more than 6% in the last 24 hours.
