Bitcoin (BTC) has strong price growth prospects in the future:
Bitcoin (BTC) price experienced a significant uptrend last week with an increase of around 12.8%. This increase is attributed to factors such as expectations for the Ethereum Spot ETF and Donald Trump's acceptance of Bitcoin for election donations.
Expert views on Bitcoin:
Despite the strong price increase last week, Bitcoin has dropped slightly by 1.8% in the past 24 hours, from a high of $71,422 to $69,823. Although the general trend is still up, there are signs that the market may decline. Cryptocurrency analyst Rekt Capital has shared a cautious outlook on the Bitcoin market following this turbulence.
Rekt Capital believes that Bitcoin could continue to fluctuate in its current range for several more weeks based on historical patterns. The key price level to watch is around $71,500. If Bitcoin breaks above this level and closes the week above $71,500, a new breakout is possible.
Rekt Capital also added that Bitcoin's long-term consolidation is consistent with previous halving cycles and could prolong the bull run. The current cycle of about 190 days could represent a recovery from the 260-day rally in mid-March when Bitcoin hit its ATH.
Investor behavior with BTC:
According to CryptoQuant, CEO Ki Young Ju said that even when the price of Bitcoin increased to about 70,000 USD, many Bitcoin holders still did not want to sell. This shows that Bitcoin is increasingly seen as a store of value asset.