Benzinga

Minding the Dip – Bitcoin’s Fall & Recovery

Bitcoin price correction has taken it below $47,000, but advocates remain bullish. It’s been a tough week for the world’s most famous cryptocurrency. On a year-long rally of over 400%, the runner stumbled and Bitcoin fell below the $48,000 barrier. In a recent video, Ben Armstrong, Founder & Host of Bitboy Crypto talked of an “eminent Bitcoin dump” and prices hanging around $38,000 to $42,000. At the time of writing, BTC is approximately $47,000. Dips are distressing to the casual Bitcoin fans. But the die-hard supporters are not surprised and laser eyes are still prominently displayed throughout most of crypto Twitter — just not quite as prominently as two weeks ago Repeat: “It’s not a dip…” Dip expresses how it feels when you’re trying to make a quick profit on crypto, but price correction is more to the point. During the 2015-2017 bull run, there were multiple digital digit corrections. It can be viewed as a healthy part of a functioning system finding its equilibrium. We spoke with several leaders in the industry to get their takes on Bitcoin’s recent price movements. Marie Tatibouet, CMO at Gate.io, a global exchange with 3.5 million users, assured us in an interview that it’s not so bad. See also: How to Buy Bitcoin (BTC) “Yes,
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