PANews, June 16: According to The Block, Bitwise Chief Investment Officer Matt Hougan stated that debating whether Bitcoin has "bottomed out" is the wrong question for long-term investors; the key issue is whether the peak of this cycle has yet been reached. Galaxy Digital, NYDIG, and Standard Chartered hold markedly different views: Galaxy identifies Bitcoin’s bottom range at $30,000 to $54,000 based on 13 indicators; NYDIG believes the current correction exhibits characteristics of a cycle bottom but lacks extreme "capitulation" selling, and that institutional demand may alter the cycle structure; Standard Chartered, meanwhile, asserts that $59,000 has already formed the bottom of this cycle and maintains its target of Bitcoin reaching $100,000 this year.
Bitwise CIO: Debate on Whether Bitcoin Has Bottomed Out Is the 'Wrong Question'
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Summary
Bitcoin analysis from Bitwise CIO Matt Hougan suggests that the debate over whether Bitcoin has bottomed is the wrong question for long-term investors; he instead focuses on whether the cycle’s peak is still ahead. Galaxy Digital estimates a bottom range of $30,000 to $54,000 based on 13 indicators. NYDIG views the recent pullback as a cyclical bottom but notes the absence of full capitulation. Standard Chartered contends that $59,000 is already the bottom, with a year-end target of $100,000. Bitcoin price prediction models vary significantly among major firms.
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