Bitcoin Reaches $90,000: Correction Warnings and New Price Forecast

user avatar

by Giorgi Kostiuk

2 years ago

Bitcoin recently rose above $89,000 and approached the $90,000 mark, increasing investors' expectations of further growth.

Bitcoin's Rise and Analysts' Opinions

Amid this rise, QCP Capital analysts noted that bitcoin futures-based returns reached a 7-month peak and leveraged transactions increased. They warned investors of a possible correction, stating that such returns historically are short-lived.

Infrastructure Changes and Options Demand

With Bitcoin hovering just below the critical $90,000 level, analysts noted that the base rate at the end of November had exceeded 18%.

Bitcoin as 'Digital Gold'

According to QCP Capital experts, Bitcoin solidified the 'digital gold' narrative with a 30% increase after the US elections, while gold dropped by 5%. Analysts suggest that even a 1% reallocation from gold to Bitcoin could push BTC to $97,000.

Despite positive prospects for Bitcoin, experts warn of possible short-term corrections, especially due to high yields and increased leverage.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Payward Acquires AAVE Tokens to Explore Decentralized Credit

Payward, the infrastructure company behind Kraken, announced the acquisition of AAVE tokens through an affiliated fund.

user avatarMaya Lundqvist

Solana Labs Launches Leap Mobile Trading App for iOS

Solana Labs has launched an early-access beta version of its mobile trading app, Leap, for iOS users.

user avatarLeo van der Veen

Aave Labs Expands Fixed-Rate Lending Capabilities with Avon Acquisition

Aave Labs announced its acquisition of Avon to enhance fixed-rate lending capabilities.

user avatarLi Weicheng

Investigation into Binance Theft Reveals Complexities in Cryptocurrency Tracing

Elliptic's investigation into the October Binance theft reveals complexities in tracing stolen cryptocurrency assets, highlighting challenges in identifying recipients and the need for compliance.

user avatarTenzin Dorje

Elliptic Reports $124 Million in Stolen Assets Converted to Bitcoin

Elliptic reports that approximately $124 million of stolen assets from the October Binance breach have been converted into Bitcoin.

user avatarAisha Farooq

Coinbase Launches Integrated Services for Token Issuers

On November 5, Coinbase launched a new integrated platform for token issuers, offering services from sales to custody, aiming to streamline operations and reduce reliance on multiple providers.

user avatarBayarjavkhlan Ganbaatar

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.