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Analyst: Bitcoin Price Drop to $30K was ‘Healthy and Necessary’

Amy Liu

Summary: The total cryptocurrency market cap fell by more than $200 billion as Bitcoin price dropped to $30,229 and altcoins correctly sharply. Considering that Bitcoin price rose from $17,586 to $41,950 in less than a month, David Lifchitz, CIO at ExoAlpha views this pullback as a “healthy correction by smart institutions who bought BTC from $20,000 ...

The total cryptocurrency market cap fell by more than $200 billion as Bitcoin price dropped to $30,229 and altcoins correctly sharply. Considering that Bitcoin price rose from $17,586 to $41,950 in less than a month, David Lifchitz, CIO at ExoAlpha views this pullback as a “healthy correction by smart institutions who bought BTC from $20,000 on the way up to $30,000.”

By Amy Liu

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