Analysts continue to discuss Bitcoin's future, predicting both significant growth potential and possible short-term risks.
Bitcoin’s Growth Predictions
According to RealVision analyst Jamie Coutts, Bitcoin may enter a period he calls the 'mania season,' potentially pushing its price up to $150,000 by the end of the year. In his statement on August 26, Coutts noted that if current conditions remain unchanged, Bitcoin could follow the pattern of previous bull cycles and reach new peaks. Chart analysis shows that in the previous two bull cycles, Bitcoin reached its all-time highs within 365 days following the peaks of the US Dollar Index.
Short-Term Risks for Bitcoin
Other analysts are less optimistic in the short term. CryptoQuant researcher ManagerXBT pointed to high-volume potential selling pressure due to the activation of large short-term sellers. In his report on August 27, he noted that the investments of short-term traders involving 33,155 Bitcoins could create significant selling pressure, which in turn could lead to a slowdown in growth and a start of price correction.
Prediction Details and Current Position
The figures presented in the reports highlight the need for caution in the coming days. Since August 23, Bitcoin's price has increased by 6.2% and has steadily held above the $63,000 support level. Despite recent successes, many futures market investors remain cautious. The Bitcoin futures premium, an important indicator of risk appetite, has consistently remained around 6% over the past month, indicating caution among professional investors in opening long positions.
Analysts continue to discuss Bitcoin's future, pointing to both significant growth opportunities and short-term risks. Investors are advised to consider all possible scenarios and closely monitor current market changes.
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