The fall of Bitcoin below its long-term moving averages has raised concerns among market participants. Temporary drops below the short-term moving averages of Bitcoin are common in bull markets. Such patterns often result in quick recoveries. After the current recovery phase, it is predicted that Bitcoin could reach an impressive level of $175,000. It is believed that this significant increase in the value of Bitcoin could also lead to substantial gains in other major cryptocurrencies like Ethereum and Solana, using Fibonacci expansion analysis.
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The fall of Bitcoin below its long-term moving averages has raised concerns among market participants. Temporary drops below the short-term moving averages of Bitcoin are common in bull markets. Such patterns often result in quick recoveries. After the current recovery phase, it is predicted that Bitcoin could reach an impressive level of $175,000. It is believed that this significant increase in the value of Bitcoin could also lead to substantial gains in other major cryptocurrencies like Ethereum and Solana, using Fibonacci expansion analysis.