As we entered the critical FED week for cryptocurrencies, Bitcoin and altcoins experienced a sharp correction.
While Bitcoin spiked up to $40,400 in this correction, it recovered relatively and rose to $42,200.
While this sharp decline was enough to make investors nervous, a bullish comment came from the cryptocurrency analyst using the pseudonym Mustache.
Stating that investors should not pay attention to this decline, the analyst argued that on the contrary, the declines are an opportunity to buy.
Describing the latest decline as a small break for the rise, Mustache claimed that the next target for BTC is $48,000 and $60,000.
Pointing to historical data for these targets, the analyst said that BTC has experienced a decline before and that he predicted a potential price increase up to $ 60,000, emphasizing the historical consistency of this data.
“Don't be shaken here. Dips are for buying.
This decline is just a break.
Next big target in Bitcoin = $48,000. If it breaks at this level, I think BTC could then rise to around $60,000.
“The situation was no different in the past.”
Don't get shaken out here. Dips are for buying.🤝
This is just a stopover imo.
Next bigger target = $48,000.
If that is broken, then ~$60,000.It has never been any different in the past. pic.twitter.com/MmOg6KGoNw
— 𝕄𝕠𝕦𝕤𝕥𝕒𝕔ⓗ𝕖 🧲 (@el_crypto_prof) December 11, 2023
Although the analyst's interpretation is based on historical data, do not make your investment decisions based on a single data or interpretation. Make your investment decisions based on your own research.
*This is not investment advice.
