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Analysts pinpoint bull and bear scenarios as Bitcoin price dips below $56K -Breaking

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© Reuters.

Some people are calling for cooler heads to take a deep breath, and then step back in order to view the long-term future outlook.BTCTraders are expressing concern at the drop in price of the cryptocurrency market and its wider scope. However, today’s fall to below $56,000 raises eyebrows.

From Cointelegraph Markets Pro TradingViewIt was shown that, after starting the week close to $60,000 and several days of bears hitting the Bitcoin price resulted in an increase of $55,600.

BTC/USDT 1-day chart. Source: TradingView
1 month chart. Source: Twitter
2017 BTC price action vs. 2021 BTC price action. Twitter