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Bitcoin to Smash Records This Week? Analyst Makes Bold Prediction
Get ready for fireworks! According to Markus Thielen, head of research at 10x, Bitcoin is poised to break its all-time high before the week ends. This prediction comes as Bitcoin recently hit a new record against the euro and is inching closer to its peak in USD terms.
Here's what's fueling the optimism:
Resilient Market: Despite attempts to liquidate long positions, "there are no sellers," Thielen notes. This suggests strong buying pressure and potentially explosive price action.
Euro All-Time High: Bitcoin already reached an all-time high against the Euro on Monday, showcasing its global appeal.
Nearing USD Peak: With the price hovering just below $67,000, Bitcoin needs to climb less than 3% to surpass its November 2021 record of $69,000.
Decreasing Exchange Holdings: A significant decline in Bitcoin held on exchanges (63,000 BTC in the past 30 days) suggests investors are moving their coins into cold storage, potentially indicating a long-term bullish outlook.
Beyond the Bullish Narrative:
It's crucial to remember that predictions are not guarantees, and the market can be unpredictable. Additionally, while reaching an all-time high before the halving (scheduled for April) would be a significant milestone, it's uncertain how the event itself will impact the price.
The Question:
Do you think Bitcoin will break its all-time high this week, or is Thielen's prediction overly optimistic? Share your thoughts in the comments below!
