Bitcoin can go into another extended phase of consolidation, with compact -term indicators suggesting more bears of perspectives, as opposed to the view of a wider cryptographic community, according to the head of research in 10x Research.
While many cryptographic analysts provide modern Maksima Bitcoin (BTC) until June, Markus Thielen he said In the market of April 14, it reports that it is skeptical, indicating that onchain data signal “more bears environment than stubborn.”
Miniature -term indicators signal the potential market level
Thielen said that the stochastic Bitcoin oscillator-which compares a certain price closing price at a certain period to determine the shoot-shows that the patterns “more typical for the market phase or late cycle, and not the early stages of the new bull”.
At the time of publication, Bitcoin costs USD 83,810. Source: Coinmarketcap
“As a result, short -term signals do not comply with long -term indicators, emphasizing the disconnection of the market in the perspective,” said Thielen.
“Bitcoin is no longer a parabolic” long -term “retail market”, he added, explaining that “requires a more sophisticated, finance -oriented approach.”
“The Bitcoin rally over the past year has not been powered by typical” crypto-brother “speculations, but by long-term owners looking for diversification and accepting the purchase and maintenance strategy,” said Thielen.
Over the past 12 months, Bitcoin has increased by 32.80% and trading around USD 83,810 at the time of publication, According to to Coinmarketcap.
Bitcoin price price can repeat the 2024 pattern
Thielen repeated his position that Bitcoin can consolidate for a long time, as in 2024.
“Despite our cautious optimism, we perceive Bitcoin as a wide range of trade from 73,000 to 94,000 USD, with little prejudice,” he said.
In March 2024, Bitcoin reached the highest level of 73 679 USD before he entered the consolidation phase, waving around USD 20,000 as long as Donald Trump won the US election in November.
Related: Recovery of bitcoin prices can be narrow to USD 90,000 – here is why
Many cryptographic analysts look in June as a month in which Bitcoin can exceed its current highest level of USD 109,000, which he achieved in January just before the inauguration of Trump.
Cory Klippsten, CEO of Swan Bitcoin, said Cointelegraph at the beginning of March that “there are more than 50% chances for the highest levels before the end of June this year.”
By providing a similar view, the Bitcoin Timothy Peterson network economist and the head of Real Vision Crypto analyst, Jamie Coutts, also marked Juune, because Bitcoin can reach a modern level.
“It is completely possible that Bitcoin can reach a new level of all time before June,” said Peterson.
Meanwhile, Coutts said: “The market may not appreciate how quickly Bitcoin can increase-actually achieving new maxima of all time before going Q2.”
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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.
