The chances of exceeding Bitcoins exceeding the highest level of USD 109,000 by June are favorable, but the market for the first time needs time to absorb unstable macroeconomic conditions, says Cory Klippsten, CEO of Swan Bitcoin.
“I think there is more than 50% chance that we will see the highest levels before the end of June this year,” said Klippsten Cointelegraph.
However, he said that market participants must first adapt to the tariff threats of US President Donald Trump and uncertainty about the inflation rate.
Markets need time to digest
“The market must first digest tariffs, fears in the trade war and growth concerns. Bitcoin trading below $ 100,000 is now a pause, not the end of Bull Run – he said.
At the time of publication, Bitcoin traded USD 88,210, which is a drop of 4.9% in the last day, data Coinmarketcap can be seen. Bitcoin has fallen by almost 14%since Trump announced import tariffs for goods from China, Canada and Mexico on February 1.
Bitcoin trads at USD 88,210 at the time of publication. Source: Coinmarketcap
Klippsten said that Bitcoin’s rush after the first break above $ 100,000 in December 2024 did not “faded completely” and the institutional request “did not disappear”.
“Macroeconomic uncertainty-geopolitical uncertainty, inflationary fears and changes in Fed’s policy causes noise, but I argue that this is mainly short-term.”
“We are now in the consolidation phase, but I do not see that it extends to a long-term lateral movement,” said Klippsten.
After Bitcoin reached the highest level of 73 679 USD in March, it consolidated in a wide range of 53,000 to 72,000 USD in the next eight months. Then it regained this level after selecting Trump in November and increased to 100,000 USD next month.
Bitcoin may have been reflected from 85,000 to 95,000 USD for a long time
Bitcoin fell to the lowest level below USD 85,000 shortly after Trump signed an executive order, creating a strategic Bitcoin reserve.
Trump’s order did not meet market expectations, because it only confirmed that most of the Bitcoins owned by the US government would not be sold and did not give a clear schedule when he purchased more or how much a purchase is looking for.
Related: The Bitcoin price record, which called 2020 Bull Run, says 69 thousand. USD new DNA
After sliding Bitcoin, the Timothy Peterson network economist told Cointelegraph that based on historical patterns, it is likely that Bitcoin will reflect from 85,000 to 95,000 USD in the next six to twelve weeks, before it again improved to over 100,000 USD.
Hunter Horsley, CEO of BitWise Invest is not too concerned about the decrease in Bitcoin prices after the strategic announcement of Bitcoin Reserve, indicating that a similar decrease occurred after the launch of Bitcoin Exchange (ETF) commercial funds in January 2024.
“Bitcoin sold ETF Bitcoin. And then he went to the modern ATH. Traders will trade ”, Horsley he said In a post of March 7.
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This article does not contain investment advice or recommendations. Each investment and commercial movement involves risk, and readers should conduct their own research when making decisions.
