Bitcoin Tumbles to $26,500: Brace for Bullish Surprise
Bitcoin (BTC) has held near multiple support trendlines due to continued indecision in the market, according to a report by Cointelegraph on June 2. The cryptocurrency’s value fell as low as $26,519 before bouncing back, and famous investor Crypto Ed suggested that the price could increase to $27,500. Crypto Tony warned investors to exercise caution until Bitcoin reaches that level and focuses on Ether ($1,897 daily, recovering from $1,840 at the end of May). Some investors believe that the macroeconomic conditions are positive for Bitcoin’s upward movement, with higher risk-on trade signals in the S&P 500 index. However, the article stresses that the report does not contain investment advice or recommendations as every investment and trading move carries risk.
