Bitcoin's Bullish Future: Analyst Predicts 80% Rally After Correction, But Here's The Catch
Portfolio Pulse from Bibhu Pattnaik
Credible Crypto, a well-known cryptocurrency analyst, predicts an 80% surge for Bitcoin (BTC) after the current correction phase. Despite Bitcoin surpassing $60,000, the analyst remains optimistic about its long-term future, suggesting a potential rise to $100,000. However, he warns of a possible intensification in the correction’s momentum due to high levels of open interest and spot market selling.
July 07, 2024 | 3:38 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Credible Crypto predicts an 80% surge for Bitcoin after the current correction phase, with a potential rise to $100,000. However, he warns of a possible intensification in the correction’s momentum due to high levels of open interest and spot market selling.
The analyst's prediction of an 80% surge post-correction is a strong bullish signal for Bitcoin. However, the caution about increased correction momentum due to high open interest and spot market selling tempers the optimism, suggesting potential short-term volatility.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100