Bitcoin is trading higher just like Ethereum and some altcoins. But analysts project what could happen in the short term.
The cryptocurrency with the largest market capitalization, the Bitcoinis trading this Friday, May 26 around $26,672.70, with a rise of 1.4%. Despite this, the week would end with a drop of 0.8%. While, ethereum rises 1.8% to $1,827.96and would end the week with an increase of 0.6%.
Meanwhile, the other altcoins are trading with the majority of increases, the main ones: Polygon (+5.1%), Ripple (+3.2%), and Lido Staked Ether (+1.6%).
As for what could happen to the BTC price, Philip Swift, the creator of LookIntoBitcoin and co-founder of Decentrader, said that even though Bitcoin is at 10-week lowsSwift points out that there is no reason to fear in this situation.
According to a report by William Suberg in Cointelegraph, Swift mentions that this adjustment in the price of Bitcoin is in line with expectations at long term.
Bitcoin is at its lowest since mid-March. However, it is important to note that, since that date, it has been lateralizing, which implies that it moved in a range of only US$4,000.
Swift remains optimistic for the long term, despite this warning that Bitcoin could fall as low as $20,000 in the coming months.
Source: Ambito
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