People Are Going To Start Cashing Out Bitcoin — Here's Why
Portfolio Pulse from Murtuza Merchant
Prominent crypto analyst Nicholas Merten predicts that people will start cashing out of Bitcoin (CRYPTO: BTC) due to a lack of momentum for continued upward trajectory. He emphasized the correlation of Bitcoin with money supply dynamics, stating that Bitcoin's value should increase when more money is printed, but face challenges during monetary contraction periods. He also pointed out potential risks for investors buying Bitcoin within the $25,000 – $32,000 range.
October 06, 2023 | 3:49 pm
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Bitcoin may face a sell-off due to lack of momentum and its correlation with money supply dynamics. Investors buying within the $25,000 – $32,000 range may face risks.
The analyst's prediction of a sell-off due to lack of momentum and its correlation with money supply dynamics could negatively impact Bitcoin's price. Investors buying within the $25,000 – $32,000 range are particularly at risk.
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IMPORTANCE 80
RELEVANCE 100