It is crystal clear that at the present moment Bitcoin market is stuck at an unpredictable and indecisive point. Bitcoin’s price has been continuously showing fluctuation since the beginning of this month. Surprisingly, amid these hard times, the king coin (BTC) has still shown some positive aspects, such as growth in net entities and illiquidity in the supply chain.
Analysts are trying to figure it out, but at the present time, they do not have the exact answer when they are asked, ‘what is the future of Bitcoin?’ To find the right answer, we need to look back at the previous patterns and behavior of the digital coin. From this viewpoint, Bitcoin is facing a temporary hard time in its otherwise pretty satisfactory lifetime.
Market analyst and trader Bitcoin Jack has shared his own point of view in this regard that this is a buy opportunity for many traders who were previously not in a position to afford Bitcoin. Those who are dumping their Bitcoin in fear are, in reality, transferring the opportunity to others. According to him, July is going to be a tougher and challenging time for Bitcoin, and one more wave of fluctuation will also follow in August or September.
He further added that for the time being, Bitcoin is going to stay between 32k to 36k dollars price range. This price range will then act as a staging ground from where it will start upward movement gradually, as has happened many times in the past.
Zooming out to give a broader picture, he said that he expects that it will reach the highest of 50k dollars max in this year. He said that this ongoing wave is the fourth one and a fifth wave is in the box for us. The target here is to survive patiently and get hold of the ground for the next wave in order to minimize the risk.
It is a point to be noted that the momentum required for a bigger trend would take some time and would be built gradually.
The analyst concluded and asserted again that the fourth wave is still passing and is not finished yet. Telling about the coming all-time high frame, he said that all relevant aspects and hypotheses demonstrate that new ATHs are on the cards right after September.