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Markus Thielen, founder of 10x Research, stated that while <a href="https://xpertsstudio.com/bitcoin-rally-stalls-at-80000-as-traders-await-inflation-data/” title=”Bitcoin Rally Stalls at $80,000 as Traders Await Inflation Data”>Bitcoin is likely to continue its current upward trend, reaching a new all-time high (ATH) in the short term seems unlikely. Thielen believes Bitcoin could experience a significant rise, but new record highs may not be seen anytime soon.
Thielen, known for his analyses of the cryptocurrency market, adopted a cautious approach regarding Bitcoin’s future price movements. The analyst stated that the market’s upside potential has not completely disappeared, and that Bitcoin could experience a significant rally. However, he expressed low expectations that this rise would result in a new price record in the short term.
Thielen’s assessment particularly highlighted the $100,000 level. According to the analyst, Bitcoin reaching $100,000 would be a significant milestone in itself. Surpassing this level is considered a major achievement for the cryptocurrency’s long-term performance.
While Bitcoin’s sharp rises in previous market cycles have increased investor expectations for new all-time highs, analysts point out that price movements should not be evaluated solely based on past performance. Macroeconomic conditions, global liquidity, interest rate policies, and institutional investor interest in the market continue to be decisive factors in determining Bitcoin’s direction.
Thielen’s statements do not mean that bullish expectations in the market have completely ended. On the contrary, the analyst acknowledges that Bitcoin could experience a significant rally, but does not expect this move to immediately reach a new record high.
For market participants, the $100,000 level therefore stands out as a critical psychological threshold. Bitcoin reaching this level, even if a new all-time high isn’t reached, could be considered a significant signal regarding the market’s long-term bullish potential.
*This is not investment advice.
Source: cryptonews.net