Despite the recent collapse in its price, many fervent bitcoin supporters still believe in its potential. The Winklevoss brothers, Tyler and Cameron, are among those bitcoiners who see the asset reaching new heights.
Some experts mention the end of the bear market. Other analysts suggest a potential deterioration of the situation in the crypto market. It may no longer be a time for speculation, but for caution. Bloomberg issues a warning and predicts a depreciation in the price of bitcoin (BTC), ether (ETH), and other cryptocurrencies.
Bitcoin (BTC) is currently navigating troubled waters, with foreign exchange reserves experiencing a significant decline at the beginning of the month. However, despite this price drop, new data from the blockchain analytics platform, CryptoQuant, suggests a possible bullish run for the queen of cryptocurrencies.
In January 2023, our statistical analysis of Bitcoin (BTC) opened up the possibility of a strong bullish recovery in its price.
Always at the center of speculation, Bitcoin continues to make headlines. Ever since it regained momentum, almost all analysts expect the asset to explode. Perhaps not to the same extent, as some believe Bitcoin is undervalued.
The volatility of cryptocurrencies leads us to accept that the bull run is far from being linear at all. Bitcoin, which started this year with impressive performance, allowing it to flirt with $31,000, has now dropped back to $27,000. Such conditions lead Rekt, a notorious crypto analyst, to predict a decline for the queen of cryptocurrencies.
This prediction comes from Kevin Svenson, a crypto analyst with 126,000 followers on Twitter. He has stated that Bitcoin is gearing up for a bull run, and altcoins like LINK will follow it.