Recent fluctuations in Bitcoin's price have caught attention in financial markets. The cryptocurrency briefly dipped below $100K, but experts predict a quick recovery.
Temporary Dip in Bitcoin Price
Bitcoin's price fell to below $98,500 late Sunday trading, following US military actions on Iranian nuclear sites. However, this temporary downturn was short-lived, and by Monday morning, Bitcoin had reclaimed $101,000.
Market Analysis
According to 10x Research's head of research Markus Thielen, it's vital for Bitcoin to remain above the short-term realized price of $98,000 and the support level of $102,000. He cautioned that a break below this range may shift the focus toward risk management, as Bitcoin has been in a five-week consolidation phase.
Altcoins Market and Prospects
Experts like Nick Ruck from LVRG Research suggest that altcoins may perform better in the coming months. He noted that if macroeconomic conditions stabilize, altcoins may have the potential for growth.
Despite temporary fluctuations, expert opinions highlight the institutional demand and the potential for recovery of both Bitcoin and altcoins in conditions of a more stable market.
