The recent decline in Bitcoin’s price has left investors wondering if it’s a temporary correction or a sign of post-halving volatility. The cryptocurrency is currently down more than 20% from its all-time high in mid-March. The broader financial market has also experienced turbulence, with traditional markets falling due to concerns of stagflation.
Experts believe that the market may be ready to test bottoms in the $50,000 range, but see potential buying opportunities in the low $60,000 range. They anticipate long-term growth for Bitcoin, with innovations in infrastructure playing a key role in its future. Despite the current volatility, experts remain bullish on Bitcoin’s upward trajectory.
Overall, the recent correction in Bitcoin’s price is attributed to US monetary policy expectations and expectations for interest rate cuts from the Federal Reserve. This has negatively impacted cryptocurrencies and riskier assets in recent days. Despite the challenges, experts remain optimistic about the long-term prospects for Bitcoin.