A macro analyst believes that Bitcoin’s reaching of quarter-million dollars in this year could be more trouble than it’s worth.
“One of the worst things that could happen is Bitcoin shoots up to $250,000, and the S&P to 8,000 in like a 3-month period,” Mel Mattison, a macro-analyst and investor who specializes in crypto entrepreneurship, told Anthony Pompliano during an interview published YouTube is launching on Friday.
“And you get this blow-off top, and everybody rushes to the exits to take profits, and it starts going down,” Mattison said.
BitcoinBTCThe price would increase by 142% to $250,00 from the present value of $102,870. according CoinMarketCap is a great place to start.
Bitcoins are gaining in popularity “healthy rotations,” Mattison says
This comes only days after Bitcoin fell below $100,000 November 4, Mattison said, “It’s the first time I have seen you in four months.” Mattison said, “We’re having healthy rotations, healthy movement, and we are getting at some very interesting points at some of the channels that I look at.”
A month ago, BitMEX founder Arthur Hayes reaffirmed his commitment. BitMine Chairman Tom Lee also echoed this sentiment. their bullish outlook for BitcoinBitcoin is still expected to hit $250,000 by the end of this year, even though the timeframe has been shortened.
The average Bitcoin return for November is 42%. The average would suggest that Bitcoin would be worth $145,000 at the end of November, with its current price of $103,000. according CoinGlass is a great way to collect coins.
Industry debates the bitcoin bear market for 2026
Canary Capital CEO Steven McClurg’s Forecasts predict that Bitcoin’s price will rise to $140,000-$150,000 at the end of 2018, before it enters a bearish market in 2026.
But not all agree with this bearish forecast for 2026.
Related: Strategy prices new STRE preferred shares to fund Bitcoin accumulation
Mattison has said that Bitcoin will reach its first $150,000 milestone in February 2026.
Matt Hougan, Bitwise CIO, recently said that 2026 would be another year. “up year” Bitcoins are a counter-trend to the conventional four-year cycle.
Meanwhile, Galaxy Digital CEO Mike Novogratz said in late October that planets Bitcoin would need to be aligned almost perfectly for it to hit $250,000 this year.
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Source: cointelegraph.com
