
Jakarta, Pintu News – In the red mood of the market, Max Keiser, a well-known Bitcoin evangelist, provides an optimistic outlook. He describes the current price drop as the last distribution phase before entering the accumulation phase.
This comes on the heels of a Bloomberg report showing fund flows into the Bitcoin ETF complex, a rare phenomenon this month, although the heaviest product in the lineup, BlackRock’s IBIT, closed the day with negative numbers.
The Bitcoin market is currently showing surprising signs of recovery. Despite losing over $4.3 billion during the month, the crypto investment market recorded a positive day with an additional $238 million. This signals that large investors are starting to buy Bitcoin at lower prices, showing confidence in its long-term value.
On the weekly chart, Bitcoin has declined about 32% from its peak of $129,000, and is now in the mid-range between $86,000 and $80,600. If the price can hold above the critical level of $74,110, which is the average purchase price of Michael Saylor’s Strategy, the potential to return to the previous resistance corridor around $112,000 will be wide open.
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According to Max Keiser, the market has entered the accumulation phase, meaning the period when investors start accumulating assets in the hope that prices will rise in the future. Keiser predicts that Bitcoin will reach new highs in 2025, which is supported by current data and technical analysis.
With a strong support zone at $74,110, Bitcoin has a chance to not only recover but also reach the resistance corridor between $120,000 to $125,000. This milestone is important before we can seriously discuss the possibility of reaching a new record high price in 2025.
With the support of data from ETFs and technical analysis, as well as the conviction of figures like Max Keiser, the outlook for Bitcoin seems very promising. Although the market is currently experiencing volatility, strong indications suggest that we are entering an accumulation phase that will take Bitcoin to new heights in the coming years.
Bitcoin is a digital currency or cryptocurrency created in 2009, which uses peer-to-peer technology to facilitate instant payments.
Max Keiser is a well-known Bitcoin evangelist, who frequently appears in the media as a cryptocurrency analyst and advocate.
Bitcoin’s highest price ever reached around $129,000.
Bitcoin ETFs are exchange-traded funds that aim to mimic the price of Bitcoin, allowing investors to invest in Bitcoin without having to buy and hold the coins directly.
The accumulation phase often signals that investors are starting to accumulate Bitcoin, which can lead to increased demand and potential price increases in the future.
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*Disclaimer
This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.
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