Bitcoin Market Report
On May 12, analysts from The Block predicted that Bitcoin could set a new historical record. However, prices may also experience short-term adjustments. Vincent Liu, Investment Director at Kronos Research, emphasized that Bitcoin is near its historical highs, with strong technical indicators and prices surpassing the 50-day and 200-day moving averages. The acceptance rate from institutional investors and optimistic prospects for 2025 pave the way for new highs.
The relative strength index of Bitcoin is currently in the "overbought" zone. Rachael Lucas, an analyst at BTC Markets, believes this does not necessarily lead to an immediate reversal, but there may be a price adjustment or short-term consolidation. The recovery and accumulation of Bitcoin above the significant psychological price level of 100,000 USD will pave the way for further growth.
Min Jung, an analyst at Presto Research, noted that the recent growth of the cryptocurrency market is driven by optimism about US-China trade negotiations, currently experiencing a rotation, with capital flowing into other cryptocurrencies. Whether Bitcoin can break previous records depends on the progress of trade negotiations, and geopolitical tensions remain an important variable.
This content is for market information only and does not constitute investment advice.
Source: https://tintucbitcoin.com/bitcoin-chuan-bi-dat-dinh-moi-dieu-chinh-ngan-han/
Thank you for reading this article!
Please Like, Comment, and Follow TinTucBitcoin to stay updated on the latest news about the cryptocurrency market and not miss any important information!
