You can also read this news on COINTURK NEWS: Analyst Predicts a Boring Summer for Bitcoin
Bitcoin and cryptocurrencies often receive varied evaluations from analysts. Sometimes, understanding these statements is crucial. Uncovering the underlying thoughts is also important. Today, an analyst provided a grass-focused evaluation. The meaning is clear, but let’s delve into it.
Analyst Points to a Boring Summer for Bitcoin
Analyst Inmortal X indicated the upcoming summer months in a recent evaluation. He expects a boring summer for Bitcoin, painting a somewhat pessimistic picture.
In the shared chart, the analyst foresees a journey towards $80,000, believing the summer’s dullness will be positive. Thus, the pessimistic view is somewhat tied to hope.
The analyst’s final statement, “we all need to touch the grass,” succinctly signifies the need for a rise in Bitcoin. Since grass is green, we need green candles in Bitcoin.
Current Bitcoin Price
While the analyst has set an $80,000 price expectation for Bitcoin, the flagship cryptocurrency, BTC is currently trading at $67,804. Despite the market’s stagnant atmosphere, expectations for a price increase in Bitcoin remain. Several factors shaping this price increase expectation are also emerging.
According to Santiment, the increasing number of holders with at least 10 Bitcoins suggests a potential price rise for BTC. The trading volume in the last 24 hours is approximately $20 billion. With a market value of $1.33 trillion, large companies continue to buy Bitcoin. Recently, Nasdaq-listed Semler Scientific (SMLR) purchased $40 million worth of Bitcoin.
Especially after the approval of spot Bitcoin ETFs, we see large companies comfortably engaging in the cryptocurrency space. This indicates that the institutional approval phase for BTC has long passed.
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