Bitcoin is showing signs of potential trend aggravation, but what will it really bring?
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A lot of buyers may try to catch the knife and purchase Bitcoin at what they perceive to be a low price around the $56,000 mark. There may be more liquidations, though, if Bitcoin is unable to maintain this level. An additional sell order may be executed as a result of buyers' stop-loss orders being triggered, further lowering the price.
Bitcoin's price is greatly influenced by the actions of institutional investors, who hold a substantial portion of the market. It may be difficult for Bitcoin to recover in the near term if the sell-off continues, as this could result in an extended bear market.Arman strongly believes that cryptocurrencies and the blockchain will be of constant use in the future.
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