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
Bitget Spot Margin Announcement on Suspension of ELX/USDT Margin Trading Services
Bitget Announcement•2025/11/27 08:19
Enjoy perks for new grid traders and receive dual rewards totaling 150 USDT
Bitget Announcement•2025/11/27 04:40
Bitget Spot Margin Announcement on Suspension of BEAM/USDT, ZEREBRO/USDT, AVAIL/USDT, HIPPO/USDT, ORBS/USDT Margin Trading Services
Bitget Announcement•2025/11/27 03:00
Bitget Spot Margin Announcement on Suspension of MAVIA/USDT, BADGER/USDT, BAN/USDT, PONKE/USDT, FLOCK/USDT Margin Trading Services
Bitget Announcement•2025/11/26 03:00
Trending news
MoreCrypto prices
MoreBitcoin
BTC
$91,159.02
-0.28%
Ethereum
ETH
$3,024.29
-0.02%
Tether USDt
USDT
$1
-0.01%
XRP
XRP
$2.22
+1.07%
BNB
BNB
$888.26
-0.36%
Solana
SOL
$140.11
-1.54%
USDC
USDC
$1
+0.01%
TRON
TRX
$0.2799
+1.22%
Dogecoin
DOGE
$0.1510
-1.66%
Cardano
ADA
$0.4299
-0.50%
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