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Bitcoin Is a Cyclical Asset, Set for Another All-Time High in the Next Two Years

By WebsCryptoJuly 14, 20221 Min Read
Bitcoin Is a Cyclical Asset, Set for Another All-Time High in the Next Two Years
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Meltem Demirors, chief strategy officer at Coinshares, said that Bitcoin is set to hit another all-time high in the next 24 months. On the 11th local time, Meltem Demirors said in an interview that Bitcoin has always been a cyclical asset. From a historical point of view, the decline of Bitcoin from the historical high to the bottom is generally 80% to 90%. As a result, Demirors said, “Bitcoin has room to fall further.”

Currently, Bitcoin is only down around 65% from its all-time highs set in November last year. Demirors noted that Bitcoin will have a strong support level at $20,000. She doesn’t expect bitcoin to fall below $14,000, and says it will see another all-time high within the next 24 months. Affected by the strong US dollar, the price of Bitcoin fell below $20,000 again. Demirors said that there has been no near-term catalyst for cryptocurrency gains, and it will take a while for the trend to reverse. “During a bear market, a lot of cryptocurrencies will be wiped out.” She added that in the long run, most cryptocurrencies will go to zero and only the strongest will survive.

DISCLAIMER: The information provided by WebsCrypto does not represent any investment suggestion. The articles published on this site only represent personal opinions and have nothing to do with the official position of WebsCrypto.
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