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▲ Bitcoin (BTC)
Investor anxiety is growing due to Bitcoin (Bitcoin, BTC) price adjustments. Analyst Egrag Crypto, who previously predicted XRP would reach $700, has spoken out. He diagnosed the current situation as a "healthy market readjustment phase." This analysis is contributing to the recovery of market confidence.
According to U.Today, a virtual asset specialized media outlet, on April 29 (local time), Egrag Crypto positively evaluated Bitcoin's trend. He viewed this adjustment as an essential process for maintaining the bullish cycle. He presented past price trends and Fibonacci indicators as evidence. The current decline is a critical phase for removing bubbles. He explained that it is a process of energy condensation for further upward movement. Egrag Crypto urged, "Give the market a little time."
Egrag Crypto is a figure who gained attention for his $700 forecast for XRP. He believes Bitcoin will not be swayed by short-term volatility. If it secures technical support levels, it is expected to break its all-time high. The current fear sentiment could actually be an opportunity. It is analyzed as the optimal buying point for smart money.
Currently, the virtual asset market is struggling due to a surge in international oil prices. Bitcoin has fallen below the $77,000 mark. However, Egrag Crypto explained that the long-term upward trajectory remains unchanged. He repeatedly urged investors to be patient. He added, "Only by enduring this adjustment now can you enjoy the rewards to come."
Technically, Bitcoin has now moved out of the overbought zone. This is a factor that strengthens future price downside rigidity. Egrag Crypto identified breaking the $80,000 resistance level as a key turning point. If successful, a broader altcoin market rally is highly likely to unfold. Investors are closely monitoring real-time trends to catch rebound signals.
*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*
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