The fall in bitcoin is a necessary correction for continuation of dynamic growth. This reason for the decline in the value of the first cryptocurrency was named by the trader Credible on his Twitter.

According to the analyst’s forecasts, the bitcoin rate is in the phase of a healthy correction and will fall to 52-53 thousand dollars soon. However, the trader is confident that in the future the most popular cryptocurrency will exceed 70 thousand dollars. Credible argues for its opinion by the fact that each Bitcoin growth cycle lasts longer than the previous one, so the mark of 69 thousand dollars is not the highest indicator yet.

On the eve, on November 18, bitcoin dropped in price to 57.3 thousand dollars – this is an anti-record since October 28. At the time of writing the news, the rate of the most popular cryptocurrency fell again, losing 4.19 percent per day. Bitcoin is trading at a price of 56.9 thousand dollars. The minimum per day was 55.6 thousand dollars – the first cryptocurrency last dropped to this value on October 13.