Bitcoin's Recent Drop Below $60K is Not Worrisome, Analyst Says

Bitcoin's Recent Drop Below $60K is Not Worrisome, Analyst Says

There is no need to fret about Bitcoin's recent drop below $60,000, according to Matt Maley, chief market strategist at Miller Tabak. The market analyst recently told Yahoo Finance that the largest cryptocurrency could still fall "a lot" without enduring any real damage from a technical standpoint.He estimates that Bitcoin would have to plunge below $50,000 to cause some serious damage. In such a case, the crypto king would break its trendline that goes back to the July lows:

It can still come down quite a bit without having really major technical damage.

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