Bitcoin is on the way to a brand new version (BTCAccording to Jordi Visser, a market analyst, the crypto assets prices will likely experience major corrections in Q4.
Visser said Bitcoin was part of AI and compared BTC with Nvidia. The high-performance chip maker that is now the largest in the world. most valuable publicly traded company And the first publicly traded company to achieve a value of over $4 trillion. Visser said:
“I just want to remind people that Nvidia is up over 1,000% since ChatGPT’s launch. During that time period, which is less than three years, you’ve had five corrections of 20% or more in Nvidia before it went back up to all-time highs. Bitcoin’s going to do the same thing.”
Artificial intelligence will replace human workers in more and more industries, destroying traditional businesses and making stocks obsolete. driving investors to BTCVisser has predicted that digital currency will become the preferred way to store value.
Market analysts try to predict the price path of Bitcoin amid rapid technological innovations, disruptions in the market, and devaluation of fiat currencies.
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Bitcoin Performance Slows Down: Analysts’ Concern
Gold and stock prices are a focus for analysts hit new all-time highs Bitcoin is still trading at around $110,000, just 11% below its previous high price of $123,000.
Investors differ on the possibility of new highs, which could push BTC up to around $140,000 in Q4, or whether the recent drop represents the start a longer bear market. could take BTC’s price down to $60,000.
Some analysts have become less optimistic due to regulatory obstacles and the inability of the United States government to make progress with a Bitcoin reserve that would grow through market purchases.
Some analysts had predicted previously that US government purchasing of BTC as part of a national Bitcoin Reserve would have a significant impact on the price for this digital asset by 2025.
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Source: cointelegraph.com
