Is Bitcoin's Fall Over? Top Crypto Analyst Says 'Altcoins Are Going To Take Over Until...'
Portfolio Pulse from Benzinga Neuro
Crypto analyst Michaël van de Poppe predicts a slow recovery for Bitcoin, with a potential 5-10% correction ahead, but sees altcoins dominating until Bitcoin reaches a new all-time high. This comes amid mixed analyst views on Bitcoin's future, with its current price at $57,726, reflecting a slight decline but a significant year-to-date increase.
May 02, 2024 | 8:55 am
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Bitcoin is expected to have a slow recovery with a potential 5-10% correction, but the long-term outlook remains positive as altcoins gain in the interim.
Van de Poppe's analysis suggests a cautious short-term outlook for Bitcoin with a potential correction, but the overall positive sentiment for altcoins until Bitcoin reaches a new all-time high indicates a mixed impact on Bitcoin's price in the short term. The current market volatility and differing analyst opinions add complexity to the prediction.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100