After the upward trend observed in the cryptocurrency markets in recent months, there was a sharp correction due to tensions between Iran and Israel. Bitcoin price on Wednesday for $59,900 It fell below 60 thousand dollars for the first time since early March. 59 thousand threshold Bitcoin, which is being discussed whether or not it should be tested, went back into an uptrend immediately afterwards.

Bitcoin price started to retreat after hitting an all-time high. However, with the upcoming halving, this correction was limited. After Iran’s attack on Israel on Saturday, an atmosphere of panic arose on the markets Cryptocurrency markets were in the red. Over the same period, the loss in value of other crypto assets could reach 40%-50%.

Corrections took place in cryptos

Market Strategist of LMAX Group Joel KrugerHe stated that looking at the past behavior of crypto investors, this situation may continue for a while. Kruger stated that looking at the movements in the markets, large investors have not yet started buying from the bottom and therefore the decline will continue. Kruger recalled that the critical threshold was 59 thousand dollars, which was tested twice in March.

On the other hand, Bitcoin has started to recover its losses. unlike whales Small investors appear to have started investing again after tensions between Iran and Israel subsided for the time being. The markets are expected to be active with the upcoming Bitcoin halving.

Do you think the bitcoin price will continue to rise in the near future?