Pointing out the economic crisis dragged into the USA, it was stated that Bitcoin (BTC) may have quietly entered the bull market.
Investment research company ByteTree published a report led by Chief Information Officer Charlie Morris on October 5. The report included remarkable statements about Bitcoin. Morris, rising bond yields in traditional markets to damage While arguing that Bitcoin causes Better performance compared to the US stock market highlighted what he exhibited.
In this process we are in, Bitcoin “to a quiet bull run” Morris stated that he started Safe haven against US bonds He emphasized that Bitcoin will become more prominent over time. On the other hand, the market signal presented for Bitcoin in the report neutral to bullish translated.
for Bitcoin While the 25 thousand dollar level is emphasized If this level is maintained The upward wave may grow further implied:
If we can maintain the $25,000 level, which we probably will, Bitcoin is in a bull market, albeit a quiet one.
About subject in a contrary statement chief investment officer of investment firm Ledn John Glover in a short time in the cryptocurrency market One sales may come predicted. Arguing that there is a lack of liquidity in the market, the experienced name made the following statements:
In the near term, I expect the market to sell into this rally. In the absence of new capital flowing into crypto, I believe this rally will be short-lived.
On the other hand, Glover stated that the corrections in the cryptocurrency market have been completed and he does not expect any further decline. Until the second quarter of 2024 one to continue bull He stated that we are just at the beginning of the market.
I believe the Bitcoin price will be higher in three months than it is today because we have technically completed the sell-off and now I expect a sustained rally through Q2 2024. Bitcoin futures are looking good, especially when you compare it to the crisis in the bond market. A true safe haven against Uncle Sam’s bonds.