Bitcoin Faces Further Losses Before Rally Restarts, Say Analysts
Despite a bounce earlier on Friday, bitcoin may yet see further losses in the near term.
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Bitcoin has finally begun to strongly recover since last week’s lows near the $16,200 region. In the past 48 hours, the coin surged from the $17,000 region to $18,500 — the highest the coin has traded at in many days. Analysts are mixed over what comes next for Bitcoin. Some think that this rally is a precursor to new highs. Others think that the coin could revert lower as it faces down key resistance levels. […]
Crypto analysts are pushing back against the narrative that the current BTC rally is being fuelled by a liquidity crunch afflicting bitcoin mining pools in China. The liquidity crunch, which is caused by an ongoing regulatory crackdown in that country, has reportedly left miners unable to sell their BTC holdings. Miners Are Selling The analysts are instead backing a counter-narrative which points to institutional investor interest as the reason for the current BTC rally. Using data to support their assertions, the analysts suggest that the current bull run, which has different....
Bernstein analysts have reiterated that Bitcoin could still rally to $150,000 this year. These experts noted that BTC was experiencing what they described as the “worst bear case” in its history, suggesting that this bear market may not be as deep as previous cycles. Bernstein Predicts Bitcoin Rally To $150,000 By Year-End Bernstein analysts, led […]
Although Bitcoin (BTC) continues to hold steady in the mid-$80,000 range, analysts are forecasting that significant volatility may be imminent for the leading cryptocurrency. That said, most analysts predict a potential price rally for the apex digital asset. Bitcoin Ready To Experience Significant Volatility In a CryptoQuant Quicktake post, contributor Mignolet highlighted that approximately 170,000 […]
JPMorgan analysts, led by Nikolaos Panigirtzoglou, have predicted that the Bitcoin price could still rally to $165,000. They also provided a timeline for when this could happen and their reasons for this bullish outlook on the flagship crypto. JPMorgan Analysts Predict Bitcoin Price Rally To $165,000 JPMorgan stated that Bitcoin is undervalued against gold and […]