CryptoQuant Predicts Bitcoin Price Top at $146,000: Here's Why
Bitcoin's price reaching $146,000 seems ambitious, but CryptoQuant thinks it's possible. According to their analysis, Bitcoin's price top in the current cycle could be around $146,000, based on the realized price valuation metric . This metric measures the price at which each coin was last transacted, and historically, this price band has acted as an indicator of the market top.
CryptoQuant's prediction is also supported by the fact that Bitcoin's price is still below the overbought line, which often marks a long-term uptrend . Additionally, the firm notes that the holdings of new investors are yet to reach an extreme level, which was a signal in the past two market tops .
Other experts, like JPMorgan, also predict that Bitcoin could reach $146,000 in the long term, as it continues to substantiate its "digital gold" moniker . However, it's essential to remember that these predictions are subject to change and should not be taken as investment advice.
Overall, while reaching $146,000 seems like a stretch, CryptoQuant's analysis and other expert predictions suggest that it's not entirely impossible. As with any investment, it's crucial to do your own research and consider multiple sources before making any decisions.
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