{"id":36040,"date":"2024-02-12T21:52:34","date_gmt":"2024-02-13T01:52:34","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=36040"},"modified":"2024-02-12T21:52:34","modified_gmt":"2024-02-13T01:52:34","slug":"analyst-says-bitcoin-wont-fall-below-100000-in-next-crypto-winter","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2024\/02\/12\/analyst-says-bitcoin-wont-fall-below-100000-in-next-crypto-winter\/","title":{"rendered":"Analyst Says Bitcoin Won\u2019t Fall Below $100,000 In Next Crypto Winter"},"content":{"rendered":"

One analyst is confident that Bitcoin (BTC) will be more resilient than ever in future crashes. Taking to X, the analyst\u00a0said<\/a> that the world\u2019s most valuable coin will not fall below $100,000 in the next crypto winter.<\/p>\n

Bitcoin Will Be More Resilient In The Future<\/h2>\n

This optimistic outlook hinges on a key factor: the recent approval of spot Bitcoin exchange-traded funds (ETFs) by the United States Securities and Exchange Commission (SEC). This product, the analyst said, represents a significant shift, introducing a \u201cpermanent institutional bid\u201d for Bitcoin. <\/p>\n

With Wall Street now open to diversifying into Bitcoin, aiming to ride the trend, the stream of institutional demand would make the coin more robust even if prices overheat in the future.<\/p>\n

The analyst argues that this \u201cpermanent\u201d demand is a powerful buffer against price drops. While future bear markets are inevitable, the presence of institutional buyers will reduce the severity and duration of these downturns. <\/p>\n

Accordingly, the analyst expects future corrections to be relatively shallow and recoveries stronger and quicker. BTC\u2019s losses were more profound in the past, and recoveries were weaker due to low liquidity.<\/p>\n

<\/a><\/p>\n

This prediction is when Bitcoin is trending higher, looking at the performance in the daily chart. So far, the coin is at around January 2024 highs and will likely extend gains. Looking at the candlestick arrangement, the immediate psychological resistance is $50,000. <\/p>\n

If bulls anchor on the recent leg up, BTC prices may breach this reaction point, initiating a run that may see BTC float to November 2021 highs 2021.<\/p>\n

Will BTC Breach $70,000 In 2024?<\/h2>\n

Though the analyst is bullish, it is not immediately clear if Bitcoin would even have the momentum to breach $70,000 and rally to new territory above $100,000. Even so, more analysts and investors, including Arthur Hayes<\/a>, the co-founder of BitMEX, remain bullish.<\/p>\n

Related Reading: Crypto Drama Unfolds: Ethereum Co-Founder\u2019s 22,000 ETH Transfer Sparks Price Speculation<\/a><\/p>\n

According to Hayes, monetary policy decisions made by the United States Federal Reserve (Fed) will shape and determine the market liquidity level and, thus, the speed of the BTC uptrend. The Fed is expected to slash its interest rate<\/a> from the current 5.50% level to a new level in March.\u00a0<\/p>\n

If the central bank continues to tighten, defying economists\u2019 forecasts and mopping up liquidity from the market, Bitcoin might suffer as it did in 2022. However, with Wall Street involved and more capital flowing to Bitcoin, future corrections, even if prices are still below all-time highs, might not be as brutal as before.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

One analyst is confident that Bitcoin (BTC) will be more resilient than ever in future crashes. Taking to X, the analyst\u00a0said<\/a> that the world\u2019s most valuable coin will not fall below $100,000 in the next crypto winter.<\/p>\n

Bitcoin Will Be More Resilient In The Future<\/h2>\n

This optimistic outlook hinges on a key factor: the recent approval of spot Bitcoin exchange-traded funds (ETFs) by the United States Securities and Exchange Commission (SEC). This product, the analyst said, represents a significant shift, introducing a \u201cpermanent institutional bid\u201d for Bitcoin. <\/p>\n

With Wall Street now open to diversifying into Bitcoin, aiming to ride the trend, the stream of institutional demand would make the coin more robust even if prices overheat in the future.<\/p>\n

The analyst argues that this \u201cpermanent\u201d demand is a powerful buffer against price drops. While future bear markets are inevitable, the presence of institutional buyers will reduce the severity and duration of these downturns. <\/p>\n

Accordingly, the analyst expects future corrections to be relatively shallow and recoveries stronger and quicker. BTC\u2019s losses were more profound in the past, and recoveries were weaker due to low liquidity.<\/p>\n

<\/a><\/p>\n

This prediction is when Bitcoin is trending higher, looking at the performance in the daily chart. So far, the coin is at around January 2024 highs and will likely extend gains. Looking at the candlestick arrangement, the immediate psychological resistance is $50,000. <\/p>\n

If bulls anchor on the recent leg up, BTC prices may breach this reaction point, initiating a run that may see BTC float to November 2021 highs 2021.<\/p>\n

Will BTC Breach $70,000 In 2024?<\/h2>\n

Though the analyst is bullish, it is not immediately clear if Bitcoin would even have the momentum to breach $70,000 and rally to new territory above $100,000. Even so, more analysts and investors, including Arthur Hayes<\/a>, the co-founder of BitMEX, remain bullish.<\/p>\n

Related Reading: Crypto Drama Unfolds: Ethereum Co-Founder\u2019s 22,000 ETH Transfer Sparks Price Speculation<\/a><\/p>\n

According to Hayes, monetary policy decisions made by the United States Federal Reserve (Fed) will shape and determine the market liquidity level and, thus, the speed of the BTC uptrend. The Fed is expected to slash its interest rate<\/a> from the current 5.50% level to a new level in March.\u00a0<\/p>\n

If the central bank continues to tighten, defying economists\u2019 forecasts and mopping up liquidity from the market, Bitcoin might suffer as it did in 2022. However, with Wall Street involved and more capital flowing to Bitcoin, future corrections, even if prices are still below all-time highs, might not be as brutal as before.<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-36040","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/36040","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=36040"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/36040\/revisions"}],"predecessor-version":[{"id":36047,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/36040\/revisions\/36047"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=36040"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=36040"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=36040"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}