Countdown to Bitcoin at $100,000! Should we buy or sell now?
Bitcoin's price has recently fluctuated around $95,000, and the market is eagerly anticipating a breakthrough at the $100,000 mark, but there is also the risk of a pullback. Whether to buy or sell now depends on the following key factors:
1. Current market trend: Short-term pullback or building up for a breakthrough?
Short-term pullback signals:
Bitcoin recently fell from $95,500 to $93,500, in sync with the decline in U.S. Treasury yields, indicating an increase in market risk-averse sentiment.
The technical analysis shows a 'Evening Star' candlestick pattern; if it falls below $91,700, it may further pull back.
Potential upward momentum:
The weekly purchase amount of spot Bitcoin ETFs reached $3 billion, indicating strong institutional demand.
The power law model predicts that by the end of 2025, Bitcoin could reach $130,000 to $200,000, with the current price still undervalued by 40%.
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