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
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.
'Why are you scaling out?'
Well, markets are going up heavily, but we'll be seeing some downwards momentum as well.
Nothing goes up in a straight line.
Realizing partial profits is fine. I'm still keeping big bunches in play, but I can accumulate some more.
Easy game.
— Michaël van de Poppe (@CryptoMichNL) February 10, 2021
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:
bitcoin to the moon ?
— Lindsay Lohan (@lindsaylohan) February 10, 2021
With celebrities and other
Just before the 7.6% dip, Keith Wareing of Cointelegraph tweeted:
Tops in, time to sell
— Keith Wareing (@officiallykeith) February 10, 2021
Meanwhile, Bitcoin quantitative analyst, PlanB reiterated that Bitcoin was still on track to hit $100,000 in September.
#bitcoin on track for $100K between April and September pic.twitter.com/Q6BOb2FrGZ
— PlanB (@100trillionUSD) February 10, 2021
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