LD Capital’s Jack Yi Says Bitcoin Correction Isn’t Over, Sees High Odds of Drop Below $79,000
Summary
- Jack Yi, founder of LD Capital, said Bitcoin’s break below $82,000 makes a drop under $79,000 highly likely.
- He said that if Bitcoin falls below $79,000, he will further watch price action around $75,000.
- He said the market remains in a bull trend, making this correction a normal fluctuation, and that he would consider buying the dip after the correction.
Forecast Trend Report by Period
Jack Yi, founder of LD Capital, said Bitcoin is highly likely to fall below $79,000 in the near term.
BlockBeats reported on Oct. 9 that Yi wrote on social media that Bitcoin had broken below $82,000 and that the next support level was $79,000. Given the pace of the decline over the past two days, the correction has not ended, he wrote. If Bitcoin falls below $79,000, he said he would then watch price action around $75,000.
Yi said he has not taken a short position. In his view, the market remains in a bull trend, making the latest pullback a normal fluctuation within that cycle. He added that he would stick to his principle of not shorting during a bull market and would consider buying the dip after the correction has progressed further.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul