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Bitcoin Ignores Lindsay Lohan’s Bullish Tweet As Price Drops 7.6%

February 10, 2021 at 20:42 by Mark Stevenson

Bitcoin (BTC) has shed losses close to 8% on February 10 given the first significant correction after Monday’s price surge. The price of the leading cryptocurrency dropped from the highs of $47,453 to briefly touch $43,630 during trading on Wednesday.

Bitcoin was on track to hit the $50,000  mark after refreshing new all-time highs earlier in the week, thanks to news that Tesla made a $1.5 billion Bitcoin investment.

And corrections, a necessary part of Bitcoin upward movement is expected, which Cointelegraph’s market analyst, filbfilb believes will hit $63,000 in the short term. He said early Wednesday that $52,000 may also result in temporary consolidation.

On the subject of the current market outlook, popular crypto trader and market analyst Michaël van de Poppe also advised Twitter followers to adapt to what has been a prolonged period of bullishness.

BTC/USD chart (Bitstamp). Source: TradingView

Bitcoin ignores all celebrity endorsements

Nonetheless, the drop amused some, as it came just minutes after Hollywood actress, Lindsay Lohan showed support for Bitcoin with the following tweet:

With celebrities and other non-industry figures suddenly getting involved with Bitcoin is a  sign that the cryptocurrency has quickly gone mainstream and that a correction could be in the cards.

Just before the 7.6% dip, Keith Wareing of Cointelegraph tweeted:

Meanwhile, Bitcoin quantitative analyst, PlanB reiterated that Bitcoin was still on track to hit $100,000 in September.

If you have any questions and comments on Bitcoin today, use the form below to reply.

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