Eric Choe, who has more than 7 years of experience in both the stock markets and the cryptocurrency industry, tweeted expressing his thoughts about Bitcoin’s recent price movements. Choe said that a correction under $ 9,000 is actually one of the things BTC needs most.

In his statement, the analyst stressed that Bitcoin needs a $ 9,000 correction, yet this drop may not result in a fall to the 4,000 band in March. Stating that even in such a case, investors will be ready for the decline, the analyst said that he can still make purchases after the price drops even more than $ 9,000.

Bitcoin indeed created many investors the opportunity to buy after the fall on March 12. Nowadays, the price has risen above the 200-day moving average again, suggesting that there may not be a sharp decrease for a long time.


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