Bitcoin price has recently shown signs of slimming. This creates questions about new purchasing opportunities for investors and the future aspect of the market. Analyst Ali Martinez suggests investors to wait for better entry points and states that in the short term it should be careful.
What does MVRV Momentum data say?
Bitcoin’s 180 -day MVRV momentum data stands out as a critical indicator in assessing market power. The last decline reflects similar situations that have led to significant price corrections in the past. These negative momentum phases marked with Gray regions often match local peaks or decrease trends.
Successful analyst Ali Martinez draws attention to $ 30,000 support and $ 40,000 resistance levels. These levels can determine the direction of the market. Historically, MVRV Momentum transitions took place in these intervals. This weakened upward momentum requires more cautious in the short term.
Bitcoin’s current market performance
Bitcoin is currently trading for $ 96,161 and depreciated by 1.15 %in the last 24 hours and 5.69 %in the last week. Bitcoin, which has a total market value of $ 1.9 trillion, is still the most powerful asset of the crypto market. Bitcoin’s recent turbulent graphics have not yet caused the investor to lose his belief in Bitcoin.
Despite short -term decreases, long -term expectations continue to be positive. Analysts expect a significant increase in Bitcoin’s price by the end of the year. In particular, the increase in institutional demand and the healing of the regulatory environment are among the main factors that support these projections.
Optimistic predictions for the future of Bitcoin
Marathon Holdings CEO Fred Thiel said Bitcoin can double its value at the end of the year. Thiel attributes that the price can reach the range of $ 150,000 to 200,000, and this increase is attributed to regulatory developments with corporate demand.
He also adds that large Bitcoin sales often attract the attention of a powerful buyer and keep prices constant between $ 95,000 and $ 100,000. These dynamics can provide opportunities for long -term investors, while providing stability in the price of Bitcoin.
