Economist Henrik Zeberg thinks Bitcoin (BTC) is poised for a big jump. He argues that the current negative market sentiment could actually signal a bottom for Bitcoin and other cryptocurrencies.
Zeberg’s Bullish Outlook
Zeberg, who boasts a large following on X (formerly Twitter), points to several factors supporting his prediction. He notes that Bitcoin’s recent correction, while concerning to some, might be exactly what’s needed for a price surge. He dismisses recent price drops as overblown, stating the crypto market hasn’t crashed and that the peak for this cycle hasn’t been reached yet. He highlights the significant drop in the value of altcoins (alternative cryptocurrencies) as further evidence of a market bottoming out.
Santiment’s Take: A Different Perspective
However, analytics firm Santiment offers a slightly different perspective. While acknowledging that many altcoins have plummeted, they observe that retail investor sentiment toward Bitcoin remains surprisingly high. They suggest this is due to Bitcoin’s perceived safety compared to riskier altcoins. Furthermore, Santiment expresses optimism fueled by potential pro-crypto policies from the Trump administration. They even suggest that a further price drop might be needed to trigger panic selling among smaller investors, potentially creating a buying opportunity. However, they also acknowledge that the long-term outlook for Bitcoin remains positive due to continued accumulation by major players.
The Current Market
At the time of writing, Bitcoin is trading around $96,622, showing little change in the day.
Disclaimer: This information is for general knowledge only and does not constitute investment advice. Always conduct thorough research before making any investment decisions.
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