Bitcoin's Price Outlook: Potential Fall to Mid-$20K Range Before Rebound
TL;DR
Chris Burniske, partner at Placeholder and former crypto lead at Ark Invest, predicts that bitcoin could drop to the $30,000-$36,000 range and potentially test the mid-high $20,000 area before moving towards a new all-time high. He advises patience due to expected volatility and warns of a precarious macro outlook. Despite a recent 5% rally, bitcoin had previously fallen nearly 20% to under $40,000 following the opening of spot bitcoin ETFs on Jan. 11. Burniske emphasized that he is not majorly de-risking, but rather assessing the situation and preparing for potential market movements.
Topics:businesscryptocurrency#bitcoin#chris-burniske#cryptocurrency#cryptocurrency-trends#market-volatility#price-prediction
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- Crypto fans got what they wanted. So why is bitcoin falling? CNN
- Crypto exec sees 'mid to low' $20K BTC price before new all-time highs Cointelegraph
- A Vibe Check on Bitcoin's Price: Will the Sell-Off Continue? CoinDesk
- Bitcoin bounces back after tough fortnight; ETFs still in focus - Crypto Roundup Proactive Investors
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