CandleFocus Is It Necessary to Panic in the Recent Bitcoin Price Drop? Here is the Analytics Company’s Forecast
2024-11-25
Author: Content Editor
Cryptocurrency analysis company Santiment suggests that despite the decline in Bitcoin prices, there is no need to panic, as major investors continue to accumulate BTC. They argue that if these investors continue buying, the bullish sentiment will remain strong and any declines may be short-lived. Additionally, Santiment reveals that in November alone, major investors acquired a total of 63,922 BTC, valued at $6.06 billion. The article mentions that MicroStrategy's recent large BTC purchase surprised analysts, and there is anticipation for whether Bitcoin will surpass $100,000 by the end of 2024. Polymarket odds show a 48% chance of reaching $90,000 first and a 52% chance of reaching $100,000 for the BTC price.
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