The Main Pattern I See At The Chart Is a Rising Wedge By The Perfect ABC Formation And The Price Exactly Rejected From The Wave C PRZ (Same As Bitcoin) ,Expect a Breakdown Toward a 3160$ In a Short Term
Fundstrat’s Head Of Research Says Bitcoin Will Reach $150,000, Here’s When
BTCUSD −1.63% BTCUSDT −1.83% Fundstrat’s head of research, Tom Lee has doubled down on his initial Bitcoin prediction, strongly emphasizing that the pioneer cryptocurrency will surge to $150,000. The Wall Street strategist highlighted Bitcoin’s strong bullish outlook, believing that the cryptocurrency will eventually pull out of bearish trends soon.
Bitcoin To Hit $150,000 In 2024
In a recent interview with CNBC Television, Lee expressed bullish optimism over Bitcoin’s future outlook, reaffirming his previous prediction that the cryptocurrency would reach new all-time highs of $150,000 by the end of 2024.
Earlier in May, Lee made a bullish forecast for Bitcoin, anticipating a dramatic surge to $150,000 before the year ends. At the time, the Fundstrat head of research attributed his ambitious forecast to the cooling down of inflation in the United States (US) and a subsequent increase in the demand for BTC. However, now Lee adds that BTC could witness a sharp rebound following the conclusion of Mt Gox’s Bitcoin repayment process to creditors.
With $9 billion worth of BTC and BCH set to flood the market, speculations are rising concerning potential sell-offs from creditors. This sentiment has led to BTC’s downward spiral, triggering stronger selling pressures from investors.
Bitcoin’s price also fell below $60,000 at some point, recording even more declines as miners sold off their holdings to purchase more effective mining tools. Lee believes that following any Gox’s repayment process, Bitcoin may have a “pretty sharp rebound” in the second half of the year.
Bearish Trends May Be Over For BTC
Bitcoin price has successfully crossed the $60,000 threshold and is now trading at $62,523, as of writing. Since early June, the cryptocurrency has experienced a sharp downward trend, crashing by up to 20% due to the substantial outflows from Spot Bitcoin ETFs.
Hello BTCUSDT enthusiasts, what are your thoughts on BTCUSDT continuing its downward trend?
In today's chart analysis, we can see that in the short term, BTCUSDT has formed a double top pattern and is showing a bearish trend. Overall, the trend remains in favor of further decline, and trading in line with this trend is always a wise choice.
Therefore, I anticipate continuing to sell this coin with a target price of $58,000.
What about you, what are your thoughts on BTCUSDT?
$BTCUSDT $SOLUSDT ETH is really trash coin. Solana is bullish than other cryptos performance. Why? They’ve had really good update recently that dapps now can be implemented on any www. or simple url format. There aren’t any for now but I think this is one of major upgrade and technological advancement for crypto industry this year. I think Solana can break $150 barrier and pump despite overall crypto downturn.
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Want more insights or guidance on navigating bear markets? Feel free to ask!
1. *Education*: Understanding blockchain technology, cryptocurrency markets, and trading strategies. 2. *Research*: Staying up-to-date with market trends, news, and analysis. 3. *Risk management*: Setting stop-losses, limiting position sizes, and diversifying portfolios. 4. *Discipline*: Sticking to a trading plan and avoiding impulsive decisions. 5. *Patience*: Waiting for favorable market conditions and avoiding emotional trading. 6. *Diversification*: Spreading investments across multiple assets to minimize risk. 7. *Staying up-to-date*: Following market developments and adapting to changes. 8. *Experience*: Learning from mistakes and refining trading skills. 9. *Clear goals*: Defining investment objectives and risk tolerance. 10. *Reputable platforms*: Using trusted and secure exchanges and wallets.
Remember, crypto trading carries risks, and it's essential to be cautious and informed to achieve success.
Want more insights or guidance on crypto trading? Feel free to ask!