The cryptocurrency market has been a rollercoaster of records and predictions lately. While Bitcoin and Ethereum are breaking new records, analysts express different opinions about the future of the market. Investors are trying to take the right steps in this complex environment. In this article, we will examine the latest developments in the market. We will discuss analysts’ predictions and warnings and provide investors with guidance. The cryptocurrency market has been very active lately. While Bitcoin and Ethereum are breaking new records, analysts are making different predictions about the market. Here are analysts’ Bitcoin predictions
Options market investors be careful
Today, Bitcoin broke a new record at $73.6 thousand. At this point, many predictions attract attention. Options market traders are preparing for a possible correction in Ethereum (ETH). According to a report shared by QCP Capital, the momentum between call options and put options on ETH indicates investors’ bearish expectations. Behind this bearish expectation lies the Dencun upgrade and the negative atmosphere towards spot Ethereum ETF applications.
Bitcoin prediction: It broke record after record
Bitcoin price rose to $73,000 today, again breaking the highest price record of all time. Looking at MVRV pricing bands, analyst Ali Martinez argues that the next key price target is $83,035. Martinez also notes that there have been asset sales among BTC whales, and that the number of wallets with more than 1,000 BTC in assets has decreased by 4.83% in the last two weeks.
Bitcoin prediction from 7RCC Global: $200,000!
Rali Perduhova, Founding Partner and CEO of 7RCC Global, also attracted attention with her statements. Specifically, he predicts that Bitcoin could reach $200,000 by the end of the year. Perduhova bases this prediction on catalysts such as the approval of Spot ETFs, the global trend and the upcoming halving.
When is the bull market peak?
According to Rekt Capital, Bitcoin tends to reach its “Bull Market Top” between 266 and 315 days after exceeding the previous ATH. In this case, a peak is predicted between the end of November 2024 and the end of January 2025. However, the analyst also points out that the number of days spent beyond the old ATH has increased. This shows that the peak may extend until mid-December 2024 or mid-February 2025.
Analyst Ali Martinez warns that his $30 billion long position will be liquidated if the BTC price drops to $50,500. The cryptocurrency market follows a very active and unpredictable course. Investors should conduct detailed research and consider risks before investing.
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