Bitcoin dropped 20% from its all-time high, leaving analysts split on whether a slow recovery or a fresh parabolic price breakout will happen in the next few months.
Bitcoin’s price reaching $250,000 too quickly could lead to a “blow-off top” moment, where investors would scramble to take profits, says a macro analyst.
Many recent Bitcoin sellers are likely expecting a downturn and may be turning to social media to sway sentiment in that direction, according to an analyst.
Santiment said Bitcoin’s retail-whale divide is a flashing warning sign, while other analysts anticipate new highs on a macro rebound.
Falling hashprice and a decline in Bitcoin’s prices are causing pain in the mining industry that has spread throughout the supply chain.
Outflows from Bitcoin ETFs over the last month have been relatively small despite October’s historic market crash that slashed prices by 20%.
The Bitcoin education initiative is closing its local operations and rebranding for a global mission, shifting from teaching students in El Salvador to training educators worldwide.
Bloomberg ETF analyst Eric Balchunas said it was “shocking” to see Schwab’s findings that crypto ETF investments could be on par with those in bond ETFs.
Bloomberg analyst Mike McGlone says Bitcoin hitting $100,000 is “a speed bump” to $56,000, but other analysts say Bitcoin has bottomed out.
Analysts at financial services giant JPMorgan forecast “significant upside” for Bitcoin over the next months in a report on Wednesday.