Factors such as the Federal Reserve’s monetary policy and growing institutional interest could influence the behavior of bitcoin in the coming months, with positive long-term projections.
He Bitcoin (BTC) shows signs of recovery after several days of calm, trading close to US$97,000 after increasing 2% in the last few hours. Although it is still far from its all-time high of $99,600, experts say that the recent corrections should not raise concerns among investors.
According to an analysis by for the bullish momentum to resume. This momentum could take bitcoin above $100,000. For CryptoQuant analysts, the recent corrections are natural due to an overbought market, which has not altered their optimism about a possible rebound of bitcoin to more than $100,000 before the end of the year.
For their part, some analysts highlight an increase in FOMO (fear of missing out) in the market, which could generate a strong rebound in the near future. However, there are also concerns about an “overheated market.” The XS.com analyst warns that bitcoin is above historical support level at $66,000, which could act as a major barrier in the event of a deep correction.
Market data
Despite the possibility of a short-term correction, analysts agree that this pullback could be necessary to stabilize the market and allow bitcoin to continue its upward trend in the medium and long term. The XS.com expert also highlights that the monetary policy of the Federal Reserve (Fed) could have a considerable impact on the direction of bitcoin, especially given the expectations of a possible rate reduction in December.
Finally, although Bitcoin’s dominance in the market has diminished recently, experts believe that, despite the volatility, the path to $100,000 seems well defined. If bitcoin manages to overcome this threshold, the door would open to a new phase of sustained growth, with positive long-term projections, especially due to growing institutional interest.
Source: Ambito
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