Bitcoin extended its decline on May 12, but analyst Philip Swift, co-founder of trading suite Decentrader and creator of data resource LookIntoBitcoin, does not expect a deep correction. He said it was “interesting to note that the long/short ratio has been climbing as price has trended down.”
One of the reasons that is keeping analysts bullish is Bitcoin’s (BTC) halving, which has followed a set cycle until now, and analysts expect it to continue. Citing previous cycles, investor and entrepreneur Alistair Milne, said that the time to buy is now.