Bitcoin (BTC) Hits Resistance-3 Signs a $99K Pullback Is Coming
Contrary to this bearish outlook, analyst Scott Melker has predicted that Bitcoin could defy the odds and hit $250k by the end of the year.
250K this year, totally possible…It used to be about three times as volatile as the S&P. Now it’s less than two times…The more institutional money, the more Wall Street money, the more long-term holders get involved, the less volatility there’s going to be.
For the asset to return to bullish ways, it would have to totally overturn the current trend by making a decisive move above $104k. As featured in our previous news coverage, a subsequent move above the $109k level could see the asset starting a new explosive run.
Analysts have also hinted that any massive surge could be triggered by the aggressive accumulation of whales. As indicated in our recent news brief, whales have purchased 83,105 BTC in just 30 days.
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This article is provided for informational purposes only and is not intended as investment advice. The content does not constitute a recommendation to buy, sell, or hold any securities or financial instruments. Readers should conduct their own research and consult with financial advisors before making investment decisions. The information presented may not be current and could become outdated.
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