Bitcoin uncertain
Analysts say the market expectations for Bitcoin’s rise to new levels of levels can prevent their occurrence in the short term, but this does not rule out the possibility of sudden investors to be ether.
Cointelegraph analyzed on Wednesday told the analytical company “witnessing a expectation of the upcoming Bitcoin” at all “on social media. Since the markets are moving the opposite direction of retail sale, this is usually a sign that we are not fully prepared for the height of another slapping so far.”
Bitcoin’s close calls may lead to aggressive height
Quinlivan suggested that the lack of doubt has proven that the high levels at all times do not tend to follow up, but with Bitcoin (BTC) first place at all times now, feelings have moved to a lower position to push Bitcoin above its current peak.
Bitcoin is trading at $ 109,679 at the time of publication, only 2.1 % of an altitude of $ 111,970 ever, which it reached on May 22, According to To Coinmarketcap.
“It will not be surprising if we choose shortly after seeing some frustrated” near calls “that make small merchants turn into acid and patience on BTC, and to neutralize this level of optimism,” said Queenvan.
Fear of encryption and greed indexWhich measures the morale of the total market, reads the degree of “greed” out of 72 out of 100.
Dr. Sean Dawson, the head of the derivative research, told Cointelegraph that he believed Bitcoin “is likely to be a weak performance” in the third quarter of this year.
Q3 was historically the worst for Bitcoin
Since 2013, the third quarter of each year was historically weaker than Bitcoin, with an average yield of 6.03 %, while the next quarter was the strongest, as it achieved an average return of 85.42 %, According to To Coinglass data.
Dawson pointed to the total economic uncertainty as a great concern for merchants. He said: “Despite the political pressure on price cuts, it appears that the Federal Reserve Bank is prepared to maintain constant interest rates, which may weaken Bitcoin’s call for huge returns.”
Related to: The “fair value” of Bitcoin can be up to 230 thousand dollars – analysts
99.9 % of the market participants expect the Federal Reserve to maintain interest rates as it is 4.25 % to 4.50 % on June 18, According to To CME’s Fedwatch Tool.
While uncertainty remains around Bitcoin, Quinvan pointed to the “high level of optimism towards ethereum”.
He said, “More and more eyes turned into ethereum,” adding that the origin was “playing annex with the knees since the markets began to recover in mid -April.” Ether (ETH) reached a decrease of $ 1,472 on April 9, but has since regained $ 2793 by publication time, According to To CoinmarketCap data.
“Bitcoin’s leap has allowed over the past two months, of course, to redistribute profits to allow other market hats. It was not really clear until ETH is really the maximum landing two months ago.”
Meanwhile, Dawson said that the volume of general encryption trading may decrease in the short term, as the summer’s arrival in the northern hemisphere leads to many investors to leave.
Dawson said: “This seasonal calm raises the opportunities for side movement or even a sharp decline, as traders get profits from previous gains,” Dawson said.
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