CandleFocus Bitcoin Bubble Top Might Be Near? Not Yet, Analyst Says
2024-12-07
Author: Content Editor
Jordi Visser, a former CIO and president of Weiss Multi-Strategy Advisors, believes that Bitcoin (BTC) has not reached its "bubble" phase at its current price of over $100,000. He argues that Bitcoin still has to rally against MAG7, an index of major tech stocks in the U.S., in order to reach its potential top. Visser points out that the current price movement of Bitcoin does not resemble the bubble seen in tech companies during the 1990s. He instead refers to the NFT and meme coin frenzies of 2020-2021 as examples of what crypto bubbles might look like. He also mentions that altcoin statistics indicate that we are still far from reaching the top. To achieve a true bubble status, Visser suggests that Bitcoin needs to rally against MAG7, which has historically marked the top for Bitcoin price cycles.
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