What Bitcoin analysts talk about is always on the agenda. Now, the figures about August expectations have started to come. So what can analysts expect? Let’s take a look at my post.
What do analysts expect for Bitcoin?
William Clemente, co-founder of Reflexivity Research, covers the expectations of futures traders. Clemente underlines that traders do not expect an uptrend when it comes to Bitcoin.
Keith Alan, co-founder of tracking resource Material Indicators, takes a different approach. He said he “expects a pullback” as a new resistance block appears on the Binance order book at $36,000. At this point, Alan emphasizes that the bulls are not sure that they will carry the price to 36 thousand dollars. On the other hand, according to him, the rally is not over yet. Because Binance has a $30 million demand wall.
Tom Lee thinks $200,000 is on the table for Bitcoin
Lee is one of the names that has been saying that there will be an uptrend in Bitcoin for years. In May 2021, he predicted that the cryptocurrency would close that year with a price tag of $100,000. However, this prediction did not come true.
That said, Lee enumerates a few reasons why the token should be bullish over the next few years. He thinks it’s particularly important for major asset managers like BlackRock to step into the crypto space and fill the void left by bad actors like FTX. BlackRock has recently applied to list a Bitcoin exchange-traded fund (ETF). There is also a different situation than in the past. Because there are speculations that the SEC might approve this application. On the other hand, note that Fidelity Investments has also applied for a Bitcoin ETF.
BTC highlights by Cathie Wood and Michael Pizzino
Ark Investment Management CEO Cathie Wood especially emphasizes 7-digit numbers for Bitcoin. Accordingly, she expects Bitcoin to reach $600,000 per token by 2030. She also says that there is the potential to reach $1 million in more bullish conditions, she says. Wood cites this year’s regional banking crisis as the driving force in Bitcoin adoption.
Crypto trader and educator Michael Pizzino stated in a tweet yesterday that Bitcoin could not rise above $31,000 again. He noted that the past 100 days on the stock market have been lackluster with nothing more than “small returns.” As a result, the trader states that something big in the crypto market is very close to happening.
Scary BTC prediction from Rager
Bitcoin analyst Josh Rager predicts shallower pullbacks in Bitcoin’s value. He also rejects the idea of a $24,000 correction. Rager says there could be a potential drop to $25,000 later in the year. However, he states that this can only happen after further uptrend. On the other hand, he warns that if BlackRock’s BTC application is rejected, there may be a sharp decline.
Despite the recent resistance above $31,000, Bitcoin has continued to rise with a 15% gain over the past month. It also outperformed Ethereum and most altcoins.
Jim Cramer’s warning not to invest in Bitcoin drew attention
American TV personality and CNBC’s “Mad Money” host Jim Cramer once again warned his 2 million followers not to invest in Bitcoin. This statement by Cramer, who gained a reputation as the “Reverse Cramer”, could potentially have a positive impact on the price of Bitcoin in the near future.
The market and everything else has historically reacted exactly the opposite of what Cramer said. According to this, cryptocoin.com Looking at it as a whole, the next price action could move in a way that shows a new increase in Bitcoin’s value after Cramer’s warnings.
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