After Monday’s crash in the crypto markets, the value of a number of assets has plummeted. Analysts do not anticipate long-lasting consequences. If you’re looking at BitcoinOne expert believes that BTC could reach a record high as long as it stays above $45,000.
This week’s cryptocurrency crash has been one of the worst for leading cryptocurrencys. However, CryptoQuant CEO Ki Young Ju There has been a lot of discussion about how there might be some key indicators that indicate a major rebound. This would mark the second highest increase in Bitcoin’s value this year.
You may also like: Analyst Predicts 100,000% Growth for Shiba Inu, 420% for Bitcoin
Bitcoin could still reach another all-time high in 2024, despite recent crash
Bitcoin has had a massive year. This asset was the first cryptocurrency to be approved as an ETF in the United States. The price has soared since January due to institutional interest. This week however, the price of gold has dropped. $2 trillion stock market crash Cryptocurrency is a threat to the sector.
The leading cryptocurrency may not yet be facing dire straits. Experts predict that Bitcoin could reach a new high this year if the price can remain above $45,000. Ki Young Ju focused on metrics which solidify its potential.
“Some indicators are showing bearish signals,” The CEO stated. “However, they could still recover with a rebound, so we need to watch if it stays at this level for a week or two.” If the reduced price persists, he said. “the risk of bear market grows, and recovery may be difficult if it lasts over a month.”
You may also like: Michael Saylor Reveals He Personally Owns Over $1B in Bitcoin
Bitcoin’s price has fallen by more than 1.7% during the last 24-hours, reports claim CoinMarketCap. The asset is now trading at $55,692 after a drop of almost 17% in the past seven days. This level still maintains hopes of a long-term timeframe at $45,000.
The forecast indicates that Bitcoin could reach new highs this year for the second consecutive time. Bitcoin spiked from $73,000 to $83,000 after the ETF hype in March. This trend is expected to continue over the next few weeks. Morgan Stanley Recent Allowances financial Advisors will pitch investment products. This should increase interest from institutions.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: watcher.guru