Bitcoin's June Highs: A 50% Chance?

Swan Bitcoin CEO Cory Klippsten believes Bitcoin has a better than 50% chance of surpassing its all-time high by June. However, he cautions that current market volatility, driven by macroeconomic factors, needs to subside first.

Market Needs Time to Adjust

Klippsten highlights the need for the market to absorb the impact of global economic uncertainties, such as trade tensions and inflation concerns. He views the current Bitcoin price, trading below $100,000, as a temporary pause rather than a bear market signal. At the time of writing, Bitcoin was trading at $88,210, down 4.9% in the last 24 hours.

He notes that Bitcoin's momentum since breaking the $100,000 mark and institutional demand remain strong, despite the short-term headwinds. He sees the current situation as a consolidation phase rather than a prolonged sideways trend.

Price Predictions and Expert Opinions

Following Bitcoin's recent dip below $85,000, network economist Timothy Peterson predicts a trading range between $85,000 and $95,000 over the next few weeks before a gradual rise above $100,000. Meanwhile, Bitwise Invest CEO Hunter Horsley downplayed the significance of the recent price drop, comparing it to the dip following the launch of Bitcoin ETFs earlier in 2024, which was followed by a new all-time high.

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Disclaimer: This article does not provide financial advice. All investment decisions involve risk, and thorough research is recommended before investing.