The cryptocurrency market has continued to fluctuate over the past few weeks. Following its rise last weekend, Bitcoin dropped to $63,000 after the SEC sent a Wells Notice to Robinhood. This situation made investors nervous and raised questions about the future of Bitcoin. Experts express different opinions about the future of Bitcoin. While some draw a bullish picture, others argue that there is a risk of a correction in the short term. It is important for investors to determine their investment strategies by making their own analysis in the light of this information. In this article, Bitcoin predictions from various experts will be discussed.
Bitcoin predictions: Is the rise coming?
Bitcoin has been fluctuating for the last few weeks. Bitcoin, which fell to $ 63,000 with the SEC’s Wells Notice to Robinhood following the rise last weekend, makes investors nervous. So, is Bitcoin running bullish or is a decline expected? Experts offer different analyzes to find the answer to this question.
QCP Capital:
- Analysts state that market volumes and funding rates paint a bullish picture.
- The fact that risk reversals in Bitcoin have entered the positive zone indicates an increase in the expectation that the price will rise.
- They observe that the demand for Bitcoin contracts with strike prices of $ 75 thousand and $ 100 thousand in contracts that will expire in September has increased.
- They prefer a structurally bullish trading strategy.
Davinci:
- He predicts that Bitcoin could rise to $100,000, $200,000 or even $300,000 in the long run.
- He argues that there is a significant risk of correction in the short term, citing historical trends such as “Sell in May and Walk Away”.
- Despite Bitcoin currently trading above $60,000, he urges investors to err on the side of caution and take a balanced risk-reward approach.
- He points out the Fibonacci retracement levels in technical analysis and states that Bitcoin may face resistance around $53,000.
- It suggests that there is a support level in Ethereum around $2,400.
- He emphasizes that stablecoins have the potential to surpass Visa in total payment volume in the second quarter of 2024.
John Glover:
- Ledn chief investment officer John Glover argues that Bitcoin could rise to $92,000, based on Elliott wave theory.
- Glover also predicts that Bitcoin may drop to $52,000 – $55,000 before the completion of Wave 4.
General evaluation
As can be seen, opinions about the future of Bitcoin differ among experts. While some analysts paint a bullish picture, others argue that there is a risk of a correction in the short term. It is important for investors to determine their investment strategies by making their own analysis in the light of this information. Bitcoin is a highly volatile investment instrument and may experience sudden price fluctuations. It is important to do detailed research and consider the risks before investing. This information, which should not be interpreted as any investment advice, aims to help investors make informed decisions.
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