Home Bitcoin News The analyst believes that the prospects for BTC at the end of the year are extremely bullish

The analyst believes that the prospects for BTC at the end of the year are extremely bullish

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panbeta.com

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Analyst William Clemente believes that BTC’s prospects for the second half of this year remain highly bullish

According to him, in the short term, we may see a rollback of the bitcoin exchange rate, but then the bull run will continue. The analyst believes that some factors, such as profit-taking by whales, may indicate a certain vulnerability of bitcoin:

“Short-term perspective: some coins will move from liquid to highly liquid entities, exchange flows will be neutral, some whales will record profits, an increase in the inflow of funds with an increase in market capitalization. I wouldn’t be surprised if we see a short-term pullback to about $53,000 and at least a retest of the breakout point.”

But bitcoin’s long-term prospects are very optimistic:

“Long-term outlook: extremely bullish. The supply dynamics remains strong, the hashrate level is growing, retail investors have not yet entered the market. I am still confident of a strong fourth quarter for Bitcoin”

Clemente named one of his favorite charts. According to him, the number of bitcoins acquired by long-term holders is at an all-time high, which may be a sign of an upcoming supply shock and, as a result, a sharp increase in the exchange rate:

“The essence of this indicator is that when long-term holders block a sufficiently large part of the supply, there is a supply compression effect on the market. This ratio has reached record highs, which is an extremely bullish signal”




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