Bitcoin (BTCJordi 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 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 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 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’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 near $110,000. This is down about 11% compared to its highs of more than $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 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 digital currency’s price in 2025.
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Source: cointelegraph.com
