Bitcoin – The new BitcoinBTCJordi Visser, market analyst at Investopedia, believes that despite the fact that Q4 is usually a strong quarter for cryptocurrency asset prices, there will be major corrections.
Visser claimed that Bitcoin was part of AI and compared BTC with Nvidia, the high-performance chip maker which has grown to be the largest in the world. most valuable publicly traded company The first company in the public sector to reach a valuation of $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.”
The artificial intelligence that is replacing human labor in many sectors will make traditional companies obsolete and erode their stocks. driving investors to BTCVisser predicts that the most valuable asset in the digital age will be gold.
Market analysts try to predict the price path of Bitcoin amid rapid technological innovations, disruptions in the market, and devaluation of fiat currencies.
Related: Bitcoin’s ‘biggest bull catalyst’ may be the next Fed chair pick: Novogratz
Bitcoin’s performance is slowing down, according to analysts
Gold and stock prices are a focus for analysts hit new all-time highs Bitcoin remains at a price of about $110,000. This is down 11% from the all-time record high, which was over $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 beginnings of a bear market. could take BTC’s price down to $60,000.
Some analysts have become less optimistic due to regulatory obstacles and the slow progress of the United States Bitcoin strategic reserve that increases 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 digital currency’s price in 2025.
Magazine: Recursive inscriptions: Bitcoin ‘supercomputer’ and BTC DeFi coming soon
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: cointelegraph.com
