Bitcoin is still on track for a big climb, even after a recent dip, according to crypto analysts at Glassnode.
The experts, who go by the name “Negentropic,” believe that Bitcoin could hit a peak of $110,000 during this bull market, which is almost double its current price. They say that the recent dip is just a “normal correction” in a strong upward trend.
Why are they so confident?
Negentropic says that Bitcoin is becoming less tied to traditional markets like the stock market. This means that things happening in the crypto world, like big sell-offs by companies, are having a bigger impact on Bitcoin’s price than things happening in the broader economy.
What does this mean for Bitcoin investors?
If Negentropic is right, Bitcoin could be in for a wild ride in the coming months. However, they also warn that the market is still volatile, and investors should be prepared for more ups and downs.
Remember, this is just one opinion, and it’s important to do your own research before making any investment decisions.
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