BlockBeats News, October 6th, Cryptocurrency analyst “CrediBULL Crypto” stated that after hitting a new all-time high on Sunday, Bitcoin may see further gains in the coming weeks. “Since we have set a new high in a strong manner, the next rally above $150,000 has begun.”
The analyst mentioned that we will “break through directly” the current level, implying that another high point may occur this week, but did not rule out the possibility of a pullback to the $108,000 to $118,000 range. “If the price retraces to the $108,000 to $118,000 range, it is an excellent opportunity to get on board; if not, then enjoy the journey straight to over $150,000.”
Long-term trader “Crypto Chase” also expressed a similar view, predicting on Sunday that “a new round of gains is highly likely.” He added that if Bitcoin is indeed strong, “the pullback will be very limited.”
BTSE Chief Operating Officer Jeff Mei stated: “We believe that due to the U.S. government shutdown and other monetary pressures, investors may view Bitcoin as a safe haven asset, serving as a diversification from the dollar and U.S. debt. He further added that the dollar is depreciating, and if interest rates further decline, it could depreciate even more, “it is logical for investors to allocate more funds to other currencies and Bitcoin.”
