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

Criminals Use AI-Powered Tools for Cyber Attacks in India

Criminals are using AI-powered tools to conduct financially motivated cyber attacks against entities in India.

user avatarAisha Farooq

MEXC Enhances Security Measures and Capital Reserves

MEXC enhances its security framework and capital reserves by adding 1,000 BTC to its Futures Insurance Fund, aiming to protect user assets and provide a risk buffer during extreme market conditions.

user avatarTenzin Dorje

MEXC Unveils AI Trading Report with Key Insights from Crypto Traders

MEXC has released an AI Trading Report based on a survey of 3,708 crypto traders, highlighting the use of AI in trading strategies and user preferences for control and risk management.

user avatarBayarjavkhlan Ganbaatar

BingX EU Achieves MiCA License to Expand Crypto Services in Europe

BingX EU MEGE zweite GmbH has obtained a MiCA license from Austria's FMA, allowing it to offer regulated crypto services across 29 EEA countries.

user avatarMohamed Farouk

Zcash Faces 11% Decline Amid Growing Market Concerns

Zcash has experienced an 11% decline in the past 24 hours, raising concerns about market stability and the impact of AI on cryptography.

user avatarElias Mukuru

HTX Strengthens Global Compliance and Showcases at TOKEN2049

HTX has made significant strides in global compliance initiatives while participating in TOKEN2049, a major event in the crypto industry held in Singapore.

user avatarDiego Alvarez

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.