Let’s see what these 4 experts have to say about the valuation of apex cryptocurrency
Popular Amsterdam-based cryptocurrency analyst Michaël van de Poppe told his 547,000-plus Twitter followers that Bitcoin could accelerate if it breaks the $48,000 level.
He added that while Ethereum
Looking “a little bit better” than Bitcoin with key support between $3,400 and $3,600.
Justin Bennett, who has more than 96,000 followers on Twitter, noted that Bitcoin has been trading sideways and reiterated that he would buy the cryptocurrency between $40,000 and $42,000.
Bennett also stated on his YouTube channel that Bitcoin could head lower, get a final capitulation before finding a bottom, and then possibly rally towards the $53,000 level.
Having said that, he believes that a retest of the $40,000-$42,000 level can be avoided if Bitcoin can break out of the $53,000 range on a daily close.
Crypto analyst Benjamin Cowen compared Bitcoin to 10-year Treasury yields on his YouTube channel, noting that there is a “very tight” positive correlation between the two. Additionally, he added, it will be interesting to see if Bitcoin will follow U.S. Treasury yields, or if yields will eventually follow Bitcoin.
Altcoin Sherpa, an anonymous cryptocurrency analyst with more than 162,000 followers on Twitter, said he still sees bitcoin below $40,000.
Bitcoin is down 1.7% over the past 24 hours, trading at $46,215.81 at the last check. For its part, Ethereum fell 1.7% to $3,745.55 over the same period.