Which correction Bitcoin Price (BTC) He returned less than $ 50,000 a lot Merchants Maybe it made her nervous. For example, they wonder if this is the end of a file Polmarket Was it or not. However, recently the head of digital asset strategy at Fundstrat, a consulting firm, says Pull back It could be healthy for more upside movement.
This was said by David Greider yesterday Against Yahoo Finance. According to him, we are not currently seeing a market top similar to 2017 and it appears that the price has calmed down for a while:
“We don’t necessarily see this as something that will necessarily take us to the top of the market of the 2017 type, but rather as something in which the market needs a healthy cooling off period before the market can move forward,”
Grider states that Fundstrat is therefore sticking to its price prediction Bitcoin. They expect Bitcoin to reach $ 100,000 by the end of the year. This roughly matches the expectations based on it Stock-to-Flow (S2FX) Dutch analyst PlanB model.
ICYMI: Of course Bitcoin is volatile and can easily rise or fall by 20% in short time periods. But we are nowhere close to the top of this bull market, according to both the S2FX model and the series signals. pic.twitter.com/Mk4fSVCfGB
PlanB (@ $ 100 trillion) April 8, 2021
Grider further demonstrates his statement that the current correction is a healthy reversal by noting that volatility is relatively low. This will be a sign that there is no talk of capital flight:
“I think this is a strong indication that large sections of the market are only really seeing capital moving, and we’re not necessarily seeing massive capital flight.”
Ultimately, of course, no one knows what the Bitcoin cycle will do in the future. Do you need help investing in cryptocurrencies, or just want to learn more? Then you become an insider watch Free for the first 30 days!