Bitcoin Could Dip Further, Says Top Trader

A well-known crypto trader, known as The Flow Horse, is predicting that Bitcoin (BTC) could drop further in the near future. He believes the price could fall to the lower $50,000 range.

Big Ships Turn Slowly

The Flow Horse explains that Bitcoin’s recent drop from the $60,000 range means it will take some time for the cryptocurrency to turn bullish again. He uses the analogy of a big ship needing time to change direction, highlighting the fact that market trends don’t shift overnight.

Cautious Approach

The trader is taking a cautious approach, gradually selling off some of his holdings. He’s waiting to see if Bitcoin can reclaim the $60,000 level before buying back in. However, he’s prepared to buy more if the price falls to the lower $50,000 range.

Deeper Correction Possible?

The Flow Horse doesn’t rule out a deeper correction, even potentially dipping into the $40,000 range. He emphasizes that anything is possible in the volatile world of crypto.

Important Note: This information is not financial advice. Always do your own research before making any investment decisions.