According to ME News, on June 16 (UTC+8), Matt Hougan, Chief Investment Officer at Bitwise, stated that the debate over 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 to be reached. Galaxy Digital, NYDIG, and Standard Chartered hold markedly different views: Galaxy Digital identifies Bitcoin’s bottom range between $30,000 and $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 asserts that $59,000 has already formed the bottom of this cycle and maintains its target of Bitcoin reaching $100,000 this year. All three agree that the bottom of this cycle will occur this year, prior to the next peak, followed by a new bull market. (Source: PANews)
Bitwise CIO: Debate Over Whether Bitcoin Has Bottomed Out Is the 'Wrong Question'
KuCoinFlashShare
Summary
Bitwise CIO Matt Hougan says the debate over Bitcoin price predictions is the wrong focus for long-term investors. He argues the key question is whether the peak of the current cycle still lies ahead. Galaxy Digital, NYDIG, and Standard Chartered offer differing Bitcoin analyses: Galaxy cites a $30,000–$54,000 bottom range; NYDIG notes cyclical patterns but no extreme selling pressure; Standard Chartered sets $59,000 as the bottom with a $100,000 target. All three expect the bottom to form this year before the next peak.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.