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Bitcoin Reaches New High, Analyst Warns of Risks

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by Giorgi Kostiuk

11 hours ago


Bitcoin continues to set new records, but some analysts express pessimistic forecasts regarding its future growth.

New All-Time High for Bitcoin

Bitcoin has reached a new all-time high (ATH) after a prolonged period of instability. Recently, discussions of a potential rally have intensified as the cryptocurrency has shown significant growth.

Analyst Warnings

Veteran analyst Peter Brandt stated that while he expects a long-term rise in Bitcoin, confidence in this is currently lacking. According to him, the level of $107,000 is critically important, and a drop below it could significantly change the outlook for the cryptocurrency. Brandt noted that a potential collapse could signal a trend reversal.

Understanding the Expanding Inverted Triangle?

An expanding inverted triangle is a type of price pattern characterized by increasing price fluctuations over time. It may signal market instability and precede significant downturns. Brandt highlighted the presence of such a pattern in Bitcoin charts, which raises additional concerns.

Despite analysts' warnings, interest in Bitcoin continues to grow. Investors should closely monitor key levels and potential market shifts.

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