At long last, after weeks upon weeks of increasing prices, Bitcoin saw a strong correction on Saturday. Per previous reports from NewsBTC, Saturday morning saw the price of the leading cryptocurrency tank from $10,400 to a low of $9,700 (on some exchanges), a drop of nearly 7% in a few hours’ time.
Despite this brutal crash, which liquidated dozens of millions of dollars worth of Bitcoin positions on BitMEX and a swath of other leverage-enabled exchanges, a top analyst is optimistic about the prospects for the crypto market.
In fact, the analyst said that if the bottom comes in at $9,500 to $9,700, there’s a high likelihood the price of BTC could rocket over a dozen percent higher to $11,500 in the coming weeks.
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