Analyst Justin Bennett expects crypto investors to face much more volatility in the coming weeks.
Bennett argues that behind the Bitcoin (BTC) dream are rich actors who want to consolidate their positions in crypto money.
The analyst also stated that Tesla CEO Elon Musk did not cause the Bitcoin drop. According to Bennett, this happened because of the panic of institutional investors.
The crypto analyst says that institutional investors are waiting for $28,000 to $30,000 for a buying opportunity.
Bennett also says that a rapid and continuous upward movement (V-shaped recovery) in bitcoin price could occur, but only after institutional accumulation.
Hello there! My name is Oktay from Tokensboss editors. I introduce myself as a business graduate and writer. I have been doing research on cryptocurrencies and new business lines for over 2 years.