In a recent Analysis, Yann Allemann, the founder of analytics firm Glassnode, expressed negative short-term sentiments about Bitcoin‘s price. However, he believes that the risk-reward ratio will still be satisfactory in the long term. Allemann identified several critical levels that will be important for Bitcoin bulls, including a medium-term range of $25.8K to $26.8K. He also highlighted potential downtrend levels of $23.8K to $24.8K and suggested buying opportunities after a decline or holding at $26.8K.
Allemann also mentioned positive signals such as the upward trend of the RSI value and the decrease in price volatility, which may indicate that Bitcoin is close to its bottom. In a potential bearish scenario, he expects Bitcoin to test the $23,800 to $24,800 range. Allemann recommended two different buying strategies for investors, stating that if Bitcoin experiences a decline, it may find support in the $23,800 to $24,800 range, and if buyers can break the $26,800 level, it could signal the end of the downtrend.
On the other hand, Bernstein analyst Gautam Chhugani believes that the crypto Market will experience a different cycle in the long term. Chhugani suggests that institutional capital will play a significant role in shaping this cycle, based on three important factors. Firstly, positive rulings for companies like Ripple and Grayscale from the courts are seen as a positive sign for the future of the crypto market. Secondly, institutional investors are showing increasing interest in cryptocurrencies, indicating the potential for more institutional capital to enter the market. Finally, the potential approval of exchange-traded funds (ETFs) is also expected to have a significant impact on the market.
Chhugani emphasizes that this cycle is progressing slowly but has more solid foundations. The involvement of long-term players and legal clarity increase the market’s robustness. The positive decision from the SEC regarding Grayscale and the prospects of ETFs are shaping the progress of the market. Chhugani predicts that the asset management sector will expand into territories beyond Bitcoin and Ethereum, including Solana and Polygon, as well as decentralized finance (DeFi) assets.
Overall, despite different views on the short-term and long-term outlooks for Bitcoin, both analysts agree that there are opportunities for investors in the market..
#Experts #Map #Long #Term #Bitcoin
Allemann also mentioned positive signals such as the upward trend of the RSI value and the decrease in price volatility, which may indicate that Bitcoin is close to its bottom. In a potential bearish scenario, he expects Bitcoin to test the $23,800 to $24,800 range. Allemann recommended two different buying strategies for investors, stating that if Bitcoin experiences a decline, it may find support in the $23,800 to $24,800 range, and if buyers can break the $26,800 level, it could signal the end of the downtrend.
On the other hand, Bernstein analyst Gautam Chhugani believes that the crypto Market will experience a different cycle in the long term. Chhugani suggests that institutional capital will play a significant role in shaping this cycle, based on three important factors. Firstly, positive rulings for companies like Ripple and Grayscale from the courts are seen as a positive sign for the future of the crypto market. Secondly, institutional investors are showing increasing interest in cryptocurrencies, indicating the potential for more institutional capital to enter the market. Finally, the potential approval of exchange-traded funds (ETFs) is also expected to have a significant impact on the market.
Chhugani emphasizes that this cycle is progressing slowly but has more solid foundations. The involvement of long-term players and legal clarity increase the market’s robustness. The positive decision from the SEC regarding Grayscale and the prospects of ETFs are shaping the progress of the market. Chhugani predicts that the asset management sector will expand into territories beyond Bitcoin and Ethereum, including Solana and Polygon, as well as decentralized finance (DeFi) assets.
Overall, despite different views on the short-term and long-term outlooks for Bitcoin, both analysts agree that there are opportunities for investors in the market..
#Experts #Map #Long #Term #Bitcoin
