Bitcoin Falls to $54,000

"After reaching a local high at $58,400, Bitcoin, followed by almost the whole altcoins market, has started to fall. Over the last 24 hours, the reference crypto has lost more than 7% of its value and is currently trading at around $53,500. Meanwhile, the greed and fear index for Bitcoin and the largest cryptos has lost 4 points to 66 over the past day, which corresponds to the 'moderate greed' area. Therefore, market participants have reacted to another failed attempt to test the $60,000 round level.

While 'The Wolf of Wall Street' Jordan Belfort has admitted his statements regarding Bitcoin are incorrect and that the asset could reach $100,000, the crypto market has entered the red zone.

Often, populist statements are inversely correlated with what is happening in the market. The more often various well-known speakers in the market announce the possibility of the benchmark cryptocurrency reaching $100,000, $300,000 or $500,000, the greater the likelihood of a correction.

The situation with the falling lira in Turkey and the sharp rise of interest in BTC in this country, as well as in a number of other emerging economies that are facing falling domestic currencies and not always adequate government behavior, should provide some support for BTC. However, large-cap investments can still make a significant contribution to asset value growth, and the role of a positive attitude in the equity markets is crucial here."