Trader Michael van de Poppe believes that there is strong support at the level of $ 49 thousand, which has already helped the first cryptocurrency to recover in the spring.
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At the moment, Bitcoin looks ready for the end of the correction, but before the recovery, the price of the cryptocurrency is capable of falling to $ 49 thousand. This opinion was expressed by trader Michael van de Poppe. According to him, there is strong support at the level of $ 49 thousand, which has already helped bitcoin recover in the spring of this year.
Van de Poppe also admits that another wave of decline will occur in the altcoin market before the tokens return to growth. An active recovery of alternative coins should be expected in January next year, the analyst said.
At 18:45 Moscow time on November 30, bitcoin is trading at $ 58.5 thousand.Over the day, the cryptocurrency has risen in price by 2%, and its capitalization has increased to $ 1.1 trillion, according to CoinGecko. On November 28, the cost of bitcoin for the first time since the beginning of October fell to $ 53.2 thousand.