2020-11-7 14:03 |
Bitcoin on-chain analyst Willy Woo sees three reasons why a blow-off top is unlikely to happen anytime soon for BTC price.
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On Wednesday, the US Federal Reserve decided to leave its benchmark interest rate unchanged in the 4. 25%–4. 5% range – and Bitcoin reacted instantly. The pause, while widely anticipated, came with a slightly revised outlook that includes a slower timeline for future rate cuts and a notable adjustment to the central bank’s balance sheet reduction pace.
In the ongoing debate over Bitcoin’s market trajectory, two prominent crypto analysts have shared contrasting viewpoints on X, underscoring the community’s divided sentiment. While one maintains that a drastic downturn remains possible, the other posits that the worst of the market downturn has already passed—citing a notable 87.
In his latest video update, long-time market analyst and self-described “four-year cycle” trader Bob Loukas delivered a breakdown of Bitcoin’s current trajectory. Despite a roughly 22% pullback from its recent all-time high, Loukas asserts that the leading cryptocurrency’s price action remains “nothing we have not seen before.
In a thread on X, Alistair Milne, the co-founder and Chief Investment Officer (CIO) of the Altana Digital Currency Fund (ADCF), has outlined his Bitcoin predictions for 2025. With a tenure at ADCF dating back to 2014, Milne’s insights carry significant weight in the investment community.
The recent rejection at the $100,000 has prompted a wave of warnings from leading financial analysts, who caution that Bitcoin could be poised for a significant pullback toward the $70,000 region or, in some cases, even $60,000.
Almost four years ago to the day, Bitcoin experienced a dramatic 17% plunge from $19,500 to $16,200 in 2020, an event that became infamously known as the “Thanksgiving Day Massacre. ” As the holiday approaches once again, market participants are questioning whether history might repeat itself.
Bernstein Research, the esteemed research arm of global asset manager AllianceBernstein, is projecting that Bitcoin will reach $200,000 by the end of 2025. The firm, which manages assets worth $791 billion as of August 2024, labels this prediction as “conservative” in its latest 160-page “Black Book” on Bitcoin.