$BTC
Bitcoin hits $100,000!
It may take a breather in the short term!
Attention! Bitcoin has been in the limelight recently, rushing all the way to the $100,000 mark. But it seems to be running too fast, and now it needs to take a breather and rest!
Matt Maley, chief market strategist at Miller Tabak + Co, said that investors are a little worried now and think that Bitcoin needs to take a break because it has almost reached the $100,000 threshold. He also said that everyone's bullish sentiment on Bitcoin is "extreme" now!
Since the Republican victory in the general election on November 5, the overall value of the digital asset market has risen a lot, a full $1 trillion!
However, David Lawant, head of research at cryptocurrency prime broker FalconX, sees a different picture. He said that as Bitcoin gets closer to the $100,000 mark, the pressure on sellers is also increasing.
This means that we may see Bitcoin "consolidate" around this level in the short term, that is, fluctuate back and forth before continuing to move upward.
In addition, Stephane Ouellette, CEO of cryptocurrency investment institution FRNT Financial Inc., also said that Bitcoin has been in a state of "extreme overbought" since the election, so it is reasonable for it to stop and rest now. However, he does not think this is a correction, but just a return to the level in the middle of last week!
In short, although Bitcoin is full of momentum, it also needs to pay attention to the rhythm! Let's wait and see how it will go next!
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