Bitcoin Price Correction “Will Be Relatively Short”

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.

Sources: https://coinmarketcap.com/currencies/bitcoin/

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.

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