Megabit analyst: Bitcoin has a short-term correction demand and may fluctuate and consolidate, but it will still be a safe haven asset in the long run
Odaily2024/08/12 08:45
By:Odaily
Odaily News According to the trading platform Megabit, in the past few hours, the price of Bitcoin has fluctuated downward. It has fallen below $58,000 and rebounded slightly, temporarily reporting $58,092, with a 24-hour drop of nearly 5%. Analysts at Megabit Research Institute said that on August 6, the global financial market fluctuated violently. Bitcoin fell to $49,000 and then rebounded quickly, and fluctuated in the $60,000 range, but then did not break through the pressure range above $63,000. There was a demand for a callback, but it is unlikely to plummet again in the short term. It may fluctuate and consolidate at $55,000-56,000 and choose a direction again. Although the voice of economic recession is endless, in the long run, Bitcoin can serve as a safe haven asset, while altcoins will be severely affected by the decline in liquidity and risk appetite, so investors may be more inclined to transfer funds from high-risk assets such as low-market-cap cryptocurrencies to safer investments.
0
0
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!
You may also like
[Initial Listing] Bitget Will List Planck (PLANCK) in the Innovation, AI and DePIN Zone
Bitget Announcement•2025/11/12 11:00
Buy PLAI,Get 100% fee rebate in PLAI!
Bitget Announcement•2025/11/12 10:00
Bitget to support loan and margin functions for select assets in unified account
Bitget Announcement•2025/11/12 09:03
Bitget launches cross margin trading for BGB/USDT and BGB/USDC
Bitget Announcement•2025/11/12 03:00
Trending news
MoreCrypto prices
MoreBitcoin
BTC
$101,907
-1.16%
Ethereum
ETH
$3,419.04
-0.39%
Tether USDt
USDT
$0.9998
+0.02%
XRP
XRP
$2.38
-0.66%
BNB
BNB
$955.69
-0.83%
Solana
SOL
$153.56
-1.89%
USDC
USDC
$1
+0.02%
TRON
TRX
$0.2951
-0.89%
Dogecoin
DOGE
$0.1705
-1.51%
Cardano
ADA
$0.5476
-2.24%
How to buy BTC
Bitget lists BTC – Buy or sell BTC quickly on Bitget!
Trade now
Become a trader now?A welcome pack worth 6200 USDT for new users!
Sign up now