Bitcoin Bulls Might Need To Wait Till December In 'Murky' Market, Veteran Analyst Cautions
Portfolio Pulse from Ivan Crnogatić
Veteran crypto analyst Bob Loukas has expressed uncertainty about Bitcoin's short-term prospects, describing the market as 'murky' with forces pulling in different directions. Despite this, he remains optimistic about Bitcoin's long-term potential, suggesting significant price action may not occur until mid-September or even December. Loukas believes Bitcoin is in a 'massive accumulation zone' and sees no reason to doubt a high in mid/late 2025. He also dismissed concerns about the U.S. election's impact on Bitcoin.
August 16, 2024 | 2:18 pm
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Bob Loukas, a renowned crypto analyst, has expressed uncertainty about Bitcoin's short-term prospects but remains optimistic about its long-term potential. He suggests significant price action may not occur until mid-September or December.
Loukas's analysis suggests that Bitcoin may experience range-bound trading until December, indicating a neutral short-term impact. However, his long-term bullish outlook provides some confidence for investors.
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