Lead Glassnode Analyst Expects Bitcoin Pump to “Correct” After Rally to $44k
Glassnode, a leading cryptocurrency analyst firm, has released a new report predicting that the recent Bitcoin price rally to $44,000 will soon be followed by a correction. The report states that while it is natural for Bitcoin to pull back after such a large move, any correction to current levels should be seen as an opportunity to buy. The report also noted that the cryptocurrency has been “overbought” for some time now and has just recently reached a level of exhaustion. According to the firm, a correction of this size is inevitable and should be expected. The report concludes by warning that traders should be prepared for any and all possible outcomes ahead of the upcoming stimulus package debate.