#2024WithBinance
Bitcoin is in a Price Discovery Stage
This move above $100,000 could also be seen as a technical “sell” signal for some.
“This milestone also represents an important psychological level because it is a relevant profit-taking threshold for those who invested five or 10 years ago,” says Ferdinando Ametrano, managing director of CheckSig and a professor of Bitcoin and Blockchain Technology at Milan-Bicocca University.
But he adds that market sentiment is likely to remain buoyant: “Bitcoin is in a phase of price discovery above previous all-time highs, uncharted territory that attracts attention and speculation”.
Stefano Bargiacchi agrees, saying the $100,000 milestone could give long-term investors the confidence to hold on for further gains.
“Rather than an immediate correction, crossing the key level could trigger a new uptrend phase, with the price driven by optimism and price discovery dynamics.”
