What Should We Expect from Bitcoin Going Forward? Will There Be Another Sharp Decline? What Levels Can Be Seen? Answered by CryptoQuant Analyst!
CryptoQuant analyst Axel Adler shared his expectations after Bitcoin briefly exceeded $122,000.
Stating that BTC is close to its all-time high levels, the analyst said that the likelihood of investors selling is low.
The CryptoQuant analyst mentioned that even though Bitcoin is trading close to its previous ATH, the actual profit-loss ratio is at an average level, thus a sharp reversal is unlikely.
According to this indicator, the analyst noted that the likelihood of a sharp pullback in Bitcoin is currently much lower compared to previous overheated cycles.
In another post, the analyst indicated that there are many bears starting to short Bitcoin.
The analyst stated that this situation could be seen in daily candles at ATH levels and added that BTC might experience another correction towards the 112-110 thousand levels as well.