Bitcoin holds $20K realized price as analyst eyes ‘big moves coming’
Bitcoin “panic” is unwarranted, DecenTrader co-founder Philip Swift says, with BTC price action conforming to expectations on longer timeframes. Bitcoin (BTC) is at 10-week lows, but one longtime analyst is telling investors to ignore the “panic.” In a Twitter update on May 25, Philip Swift, creator of data resource LookIntoBitcoin and co-founder of trading suite DecenTrader, eyed a BTC price breakout still in progress. Swift: "Bitcoin performing well and as expected" Bitcoin has not traded this low since mid-March, data from Cointelegraph Markets Pro and TradingView shows — and despite residing in a range just $4,000 wide since, cold feet are everywhere. “A lot of panic in the market today,” Swift summarized. BTC/USD is currently testing the mettle of key moving averages, as Cointelegraph reported, against a backdrop of traders’ downside targets extending to $25,000 and below. Even Swift believes that Bitcoin could still return to as low as $20,000 in the coming months, ...