Vladislav Sopov
As the first part of the prediction came true, veteran Bitcoiner (BTC) Tuur Demeester hints at what's next for the largest cryptocurrency
Continue reading U.TODAY
Google News
Contents
- Bitcoin (BTC) price has reached the first target set by Adamant Research, says Tuur Demeester
- How to reach the next BTC all-time high?
The renowned Bitcoin (BTC) investor, researcher and economist shared his thoughts on the triggers of the next Bitcoin (BTC) rally and the potential opportunities to benefit from it for different groups of retail investors. Additionally, a report from his firm Adamant Research provides some suggestions for final price targets for the cycle.
Bitcoin (BTC) price has reached the first target set by Adamant Research, says Tuur Demeester
Bitcoin (BTC), the largest cryptocurrency, reached the first price target mentioned in Adamant Capital's April 2023 report “How to Position for Bitcoin Boom.” The analysts had predicted that BTC price would remain in the range of $22,000 to $42,000 entering the next rally phase.
The “end goal” of this cycle remains “well above $120,000,” says Demeester. Bitcoin (BTC) reached $42,000 on December 5, 2023.
The analyst then observed the indicators worth using while checking the phase of the Bitcoin (BTC) cycle. For example, the largest Bitcoin (BTC) whales are still holding their holdings and show no interest in selling their wealth at current prices.
Additionally, the Net Unrealized Gains and Losses (NUPL) indicator has entered the “green” zone (“belief denial”), indicating “hopeful” investor sentiment.
Bitcoin (BTC) remains under pressure as regulators are still trying to crack down on cryptocurrencies. At the same time, Binance (BNB), the largest crypto exchange, managed to avoid bankruptcy, which would have been an extremely strong bearish catalyst for BTC.
Finally, Bitcoin (BTC) is likely to continue to benefit from the ever-faster money printing processes in the US and EU, similar to gold (XAU) before it. Therefore, its rally is supported by strong macroeconomic catalysts.
How to reach the next BTC all-time high?
Tuur Demeester is still bullish on BTC in the long term: he compares the role of Bitcoin (BTC) in the “Internet of Money” to the role of TCP/IP on the Internet. He suggests two strategies for those looking to profit from the next rally: buying Bitcoin (BTC) only or splitting investments between Bitcoin (BTC) and public Bitcoin-centric companies.
When it comes to investing timelines, Demeester compares two strategies: “lump sum” (investing everything you can afford in a single transaction) and “dollar-cost averaging” (DCA, or investing a fixed amount in fiat). a certain period of time). : $1,000 every two weeks and so on).
We began this chapter by comparing lump sum investments with dollar-cost averaging in Bitcoin and concluded that while the latter is less psychologically stressful, the best results tend to come from the former
His classification of Bitcoin (BTC) investment goals includes systemic risk insurance (with 2-5% of the net portfolio in BTC), a speculative asset (5-10%) and a highly aggressive early retirement bet (10-50%). .
At press time, Bitcoin (BTC) was changing hands at $42,200 and is down 1.4% in the last 24 hours.
About the author
Vladislav Sopov
Blockchain analyst and author with a scientific background. 6+ years in IT analytics, 3+ years in blockchain.
Participation in independent analysis and start-ups (Swap.online, Monoreto, Attic Lab etc.)
Learn Crypto Trading, Yield Farms, Income strategies and more at CrytoAnswers
https://nov.link/cryptoanswers
Comments are closed.