As Bitcoin (CRYPTO: BTC) continues to hold above the $46,000 level on Tuesday evening, here’s what four analysts and expert traders are saying about the largest cryptocurrency by market capitalization.
What Happened: Amsterdam-based popular cryptocurrency analyst Michaël van de Poppe told his over 547,000 followers on Twitter that while Bitcoin might have already hit a low, it did not take the liquidity beneath the lows.
This scenario still standing, but might be that we've hit the low already for #Bitcoin.
— Michaël van de Poppe (@CryptoMichNL) January 4, 2022
Only concern; didn't really take the liquidity beneath the lows. pic.twitter.com/Yj03vwBWKx
Justin Bennett, who has over 96,000 followers on Twitter, said he is still not convinced that Bitcoin will move higher without retesting the $40,000 to $42000 range.
I'm still not convinced that $BTC escapes the current situation without a retest of $40k-$42k.
— Justin Bennett (@JustinBennettFX) January 4, 2022
Orders are set.
See Also: How To Buy Bitcoin (BTC)
Cryptocurrency analyst Benjamin Cowen compared Bitcoin’s current position to that of a duck sitting at the edge of a waterfall. He noted that altcoins are holding stronger than usual with Bitcoin’s move lower.
#Bitcoin right now pic.twitter.com/jnVihEyiXS
— Benjamin Cowen (@intocryptoverse) January 4, 2022
Cantering Clark, a pseudonymous trader told his over 100,000 followers on Twitter that he believes the chances of Bitcoin touching $100,000 was “very high.” He was referring to a report by Bloomberg that quoted Goldman Sachs Group (NYSE:GS) as saying that Bitcoin will continue to take market share from gold.
Yup, I think the chances are very high.https://t.co/a0TiZuUDdk
— Ryan Cantering Clark (@CanteringClark) January 4, 2022
That being said, it reminds me of what MGNR said. "Long term:
probably up, but in a boring / low octane fashion"
Price Action: Bitcoin is down 0.2% during the past 24 hours, trading at $46,413.97 at press time.
