The Bitcoin price crashed following Iran’s attack on Israel. Data from Coinglass showed that $130 million was liquidated in just one hour from the crypto market as a result. This market downturn caused panic among crypto investors as the Bitcoin price approached the critical support level of $60,000.
Given Bitcoin’s (BTC) dominance as the flagship crypto, other crypto tokens followed suit, as most of them also suffered significant losses. As uncertainty looms about what could come next for the crypto market, a particular analysis by crypto analyst CrediBULL Crypto proves that Bitcoin (BTC) crashing dropping below $60,000 may not be a bad thing. His analysis undoubtedly provides some relief for crypto investors, including those concerned about ETFSwap (ETFS) not attaining its true potential due to this downward trend.
Crypto Analyst Says Bitcoin Price Dropping Below $60,000 Might Be Good
CrediBULL suggested in an X (formerly Twitter) post that the Bitcoin price won’t drop below $60,000 in the future if it were to breach that support level now. This is based on the belief that Bitcoin (BTC) suffering this significant decline now would mean that this was the major dip everyone in the crypto market anticipated.
If this move eventually happens, the crypto analyst predicts that Bitcoin (BTC) would most likely “just keep going up” the next time it hits a new all-time high (ATH). CrediBULL Crypto added that the “silver lining” in a drop below $60,000 is that the market can “get the major correction out of the way now and can resume up only sooner.”
Altcoins are also expected to experience this upward trend once the Bitcoin price rises above the $60,000 level in the event that it breaches that same price level now. CrediBULL Crypto also offered a bullish outlook for the crypto market when he suggested that the bulls have overcome the bearish narrative around Iran’s attack on Israel.
ETFSwap (ETFS) Investors Have No Cause To Worry
So far, ETFSwap (ETFS) investors have no reason to worry, considering that the recent market downturn hasn’t affected the token. Instead, the ETFSwap (ETFS) token has shown that it has enough bullish momentum to last throughout this bull run, irrespective of bearish narratives that may spring up along the way for the crypto market.
As one of the few crypto tokens that have remained green despite the current market conditions, ETFSwap (ETFS) has further drawn the attention of more crypto investors. This is evident from how the number of ETFSwap (ETFS) tokens sold ballooned exponentially following Iran’s attack on Israel on April 13. Data from the token’s presale website shows that over 2 million tokens have been sold in the last 24 hours alone.
This continues the remarkable run that the ETFSwap (ETFS) presale has recorded, with over 18.4 million tokens sold to date. Interestingly, this presale is just in stage 1, and such a feat has already been achieved. Retail investors aren’t the only category investors bullish on the token, as institutional investors have also shown that they aren’t willing to miss out on the next big thing in the crypto space. That is why the ETFSwap (ETFS) team was able to raise $750,000 from just two institutional investors recently.
The bullish outlook of the ETFSwap (ETFS) ecosystem is glaring, and it isn’t surprising considering the ETFSwap’s cutting-edge technology. The Decentralized Finance (DeFi) platform enables on-chain trading of exchange-traded funds (ETFs), meaning users can invest in traditional assets (alongside cryptocurrencies) anywhere and anytime. This is a novel offering in the crypto space and will surely attract billions of dollars from both the traditional finance (TradFi) and Decentralized Finance (DeFi) space.
For investors already beating themselves up about not investing early, stage 1 of the ETFSwap (ETFS) presale is still on. However, there is a need to act fast, as these tokens will likely sell out even before the scheduled date for the end of this presale stage.
For more information about the ETFS Presale:
