- 5 analysts’ view on whether Bitcoin will bounce back.
- Analyst Button made a clear view that BTC is not the currency of the future.
- The current losses are a small growing pain in the crypto industry.
Bitcoin (BTC) price dropped over 30% in a week from $59.3k to $41.9k, according to CoinGecko. This price drop made many crypto investors and analysts wonder whether BTC will recover from its loss. Let’s look into 5 analysts’ points of view on BTC.
Firstly, Forex Live analyst Adam Button is bearish on BTC, however, specifically not crypto. Moreover, Button made a clear view that BTC is not the currency of the future, and it is time all stopped to pretend. Button believes that crypto will recover, and there is a chance for the best crypto to overtake Bitcoin in due time.
Analyst Antony Portno, Founder of Traders of Crypto bearish on BTC. He mentioned that it is not evident how the recovery of BTC could take place. However, Musk’s BTC rejection is the first sign of crypto-influencers turning back on the currency.
Kevin Brown of Scottish Friendly named crypto investing a zero-sum game. He adds that investors must be prepared to lose all of their money due to the wild volatility.
Chris Harper of Birmingham Mail cites April’s correction before soaring to an all-time high as evidence enough that BTC can recover again. Not to mention, bullish cryptos are on the rise, and the sentiment that crypto is the future of currency is still high.
Anthony Cuthbertson of The Independent writes that investors should zoom out to the clear picture. The BTC price is down now, but it is monolithic in comparison to 10 years ago. Year over year, the coin is still up nearly 400%. In addition, he mentions the current losses are a small growing pain in an industry that is just hitting its growth spurt. According to CoinGecko, the BTC price is $45,518.95 with a 24-hour trading volume of $74,973,286,047, at the time of writing.