Glassnode Founder Shares His Short and Medium Term Expectations for Bitcoin

The co-founder of on-chain analysis platform Glassnode said Bitcoin (BTC) looks good in the short and medium term.

The co-founder of Glassnode, nicknamed Negentropic, included Bitcoin in a recent post. He emphasized that while banks around the world were disrupted during the collapse of CrowdStrike, Bitcoin continued on its way without any problems, thus proving its power once again.

Stating that Bitcoin has a good outlook in the short and medium term when looking at current risk data, the co-founder implied that resistances will continue to be broken:

Banks may be closed, but Bitcoin never stops. Bitcoin remained strong as the global IT outage caused by CrowdStrike hit multiple industries, exposing the weaknesses of centralized systems. Its decentralized structure helped break price resistances while traditional markets were struggling.

Our latest metrics, particularly the risk indicator, show increasing optimism and point to a good outlook in the short to medium term.

US Senator Cynthia Lummis praised Bitcoin for not being affected by Microsoft's collapse.

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